Volkswagen AG and its Chinese joint venture partners – Shanghai Automotive Industry Corp. and First Automotive Works – inaugurate their new gearbox plant in Shanghai. The facility, Volkswagen Transmission (Shanghai) Co. Ltd., will produce 5-speed gearboxes for use in the Volkswagen Bora and Polo models built in China. VW says the plant marks an investment of €120 million ($130 million) and will have an annual capacity of 180,000 gearboxes during its initial launch phase. Output will hit ...

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