The five millionth vehicle produced by Shanghai Volkswagen (SVW) left the assembly line late last week. The occasion also marked the 25th anniversary of the Volkswagen Group’s first German-Chinese joint venture. Established in October 1984, Shanghai Volkswagen was one of the first joint ventures to be set up as China opened its economy.
Together with FAW-Volkswagen in Changchun, the second joint venture, VW Group has delivered more than eight million vehicles from the Volkswagen, Audi and Škoda brands in China. China is now VW’s largest market, and the largest auto market in the world.
Between 2009 and 2011, VW will invest in a total of €4 billion in the world’s largest automotive market to introduce new vehicles and expand its production capacities in China. The expansion will be financed from the cash flow of VW Group’s Chinese joint-venture companies, which are required by Chinese industrial policies.
The U.S. remains the only industrialized nation in the world without an industrial policy to protect wealth by creating and protecting manufacturing industries, as job losses continue and unemployment reaches highs not seen since the Great Depression.