FAW-Volkswagen Automotive Company was founded on 6 February 1991, is a Chinese joint venture between the First Automobile Works and Volkswagen Group, creating FAW-Volkswagen Automotive Company, informally abbreviated to FAW-VW. Equity holdings are split as follows: Volkswagen AG with 20%, Audi AG has 10%, Volkswagen Invest 10%, and FAW has the remaining 60%. The headquarter of FAW-VW, which consists of two car plants is located in the south-western fringes of Changchun, Jilin Province, the third car plant has been built in Chengdu, Sichuan Province, the forth car plant will be built in... Foshan, Guangdong Province. FAW-VW is capable of producing the cars based on the platforms of PQ34, PQ35, PQ46 and Audis. Regarding to the annual production level, FAW-VW announced that the year-on-year production volume exceeded 513,000 units as of 31.07.2009. In 2011, FAW-VW sold just over 1,000,000 automobiles. On November 20, 1990, the official contract of an annual capacity of 150,000 cars for the joint venture between FAW Group and Volkswagen AG was signed by Geng Zhaojie , President of FAW and Dr.
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