FAW and Volkwagen Hand in Hand

According to the news from First Automobile Works (FAW) says that FAW and Europe's auto giant Volkswagen will jointly invest 5 billion Yuan ($735.3 million) to build an auto plant in Chengdu, capital city of Sichuan province, southwestern part of China. The plant is expected to create 4,500 jobs in total.

The new investment was made in an effort to support reconstruction of Sichuan, which was hit by a strong earthquake on May 12 last year. Volkswagen China CEO Winfried Vahland said the Chengdu plant would serve as an important production base to achieve its 2-million sales target in China by 2018.

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