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VW Widens Cooperation With China’s FAW as Venture Prolonged

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Volkswagen AG will expand technology development with Chinese partner FAW Car Co. and prolong cooperation for 25 years to defend its leadership in the world’s fastest-growing major car market and fend off General Motors Co.

Europe’s largest automaker will additionally invest 100 million euros ($126 million) together with its second local partner, SAIC Motor Corp., in a new testing ground near the factory in Urumqi, Wolfsburg, Germany-based Volkswagen said today in a statement.