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VW Is Setting Up Electric Car Charging Stations in China
- German carmaker, partner FAW to each own 30% of venture
- Availability of charging stations is key for boosting EV sales
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Volkswagen AG is setting up a network of fast-charging stations in China with local partners as part of its multibillion-dollar push to boost electric-vehicle sales in the world’s largest market, people familiar with the matter said.
Volkswagen and long-standing carmaker partner China FAW Group Co. will each own 30 percent of the venture operating charging facilities nationwide, said the people, who asked not to be named as the discussions are private. Two other Chinese companies will hold the rest, the people said.