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Volkswagen devising new strategy for China market
260508, Beijing. Volkswagen is planning to accelerate joint purchase rates to keep its competitive edge in China market, said Stefan Krauss, Senior manager of technical development apartment of Volkswagen Group (China).
In line with the expansion, the German auto giant expects to increase the accessory purchase rate of its two joint ventures in China, namely Shanghai Volkswagen Automotive Co Ltd and FAW-Volkswagen Automotive Co. Ltd, from current 20% to 75%.
Krauss also said that only under this condition would the suppliers boost their production and efficiency.
Meanwhile, Volkswagen hopes to eventually cut down 40% of its product costs while undergoing the new round of structural adjustment, coupled with new technologies introduced to China.
Source: China Knowledge.
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