UPDATE 1-VW to invest in 240 mln euros China engine JV

Newswire

(Adds details) SHANGHAI, Sept 30 (Reuters) - German auto giant Volkswagen AG said on Tuesday it will invest 240 million euros ($278.6 million) with a Chinese partner in a venture to produce high-grade engines in Shanghai that should start up by 2005. The plant, a venture with strategic partner Shanghai Automotive Industry Corp, will be designed to crank out 180,000 engines a year initially, rising to 300,000 eventually, said Volkswagen spokesman Michael Wilkes. Volkswagen now maintains ...

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