BEIJING: German carmaker Volkswagen will build two new vehicle plants in China as it invests two billion euros ($2.7 billion) along with its partner, it announced on Monday during a visit by Chancellor Angela Merkel.
The agreement between the company and Chinese auto manufacturer FAW for the new factories in the world’s biggest car market was signed in the presence of Merkel and Chinese Premier Li Keqiang, Volkswagen said in a statement.
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