UPDATE 2-VW to invest 240 mln euros in China engine JV

Newswire

(Recasts, adds quotes, details) By Ben Blanchard SHANGHAI, Sept 30 (Reuters) - Volkswagen AG is teaming up with a Chinese partner to invest 240 million euros ($278.6 million) in an engine-making venture in Shanghai, a vital cog in the German carmaker's efforts to expand in the country. The venture with Shanghai Automotive Industry Corp will be designed to crank out 180,000 engines a year at first and 300,000 eventually, as Volkswagen strives to maintain a huge market lead and hike ...

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