VOLKSWAGEN TO RESTRUCTURE CHINA BUSINESS
AsiaInfo Services, May, 2004
AsiaInfo Services 05-21-2004 Volkswagen to Restructure China Business SHANGHAI, May 21, 2004 (SinoCast via COMTEX) -- On May 18, Volkswagen, the famous German automaker, stated that it was now restructuring its China business. Volkswagen attributed the ongoing restructuring to the fierce competition in the Chinese automobile market. Volkswagen plans to integrate all its China operations into a single management framework.
As a cement step, Volkswagen has set up Volkswagen China Investment Co., Ltd. (Volkswagen China)to oversee its three joint ventures in China. Volkswagen said that the Chinese market would be increasingly important, in view of its poor performance in the global marketoutside China.In contrast with the global market, Volkswagen has seen...
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