China’s President Xi, VW CEO Winterkorn Observe A Ball Game After A Long Week

Chinese President Xi Jinping joined Volkswagen CEO Martin Winterkorn for a pleasant football (soccer) match in Berlin in between young players from China and Germany on Saturday, the final day of a whirlwind 2-day check out aimed at strengthening financial ties amongst the 2 nations.

Volkswagen has agreed to produce eco-friendly versions with its 2 Chinese partners, Shanghai-based SAIC Motor SAIC Motor Co.  and Very first Automotive Operates Group, and it received the green light for added manufacturing capacity through the venture with FAW.

Daimler Daimler AG will also achieve an boost in manufacturing capacity with its companion Beijing Automotve Sector Co., and BMW pledged to strengthen the ties with its Chinese partner, Brilliance Automotive Holdings Ltd, at a substantial-wattage ceremony Friday attended by Chancellor Angela Merkel and leading Chinese and German industry leaders.

Xi called for a “quantum leap” in the enterprise relations amongst the 2 countries.  Germany is China’s foremost trading partner in Europe, its second-largest trading companion right after the United States, and Volkswagen established one particular of the earliest and greatest joint vehicle-generating ventures with a Chinese business 30 many years in the past.

VW and its venture partners plan to invest €18.2 billion to construct factories and produce designs for China in between 2014 and 2018.  They developed and offered more than 3 million autos in China last 12 months and aim to boost that to 4 million by 2018, when VW aspires to be the global market leader.

Xi visited VW’s headquarters in nearby Wolfsburg on Saturday morning, and then  he and his wife joined Winterkorn at the Berlin Olympics internet site for the match. It was sponsored by the Rainbow Bridge Project, a Chinese initiative that gives vocational education and football/soccer coaching to younger Chinese folks from poor areas.  VW has been a sponsor since 2013.

Winterkorn, an avid football/soccer fan, can be observed usually at matches in Wolfsburg, at occasions with Bernd Osterloh, VW’s highest-ranking employee representative. It is possibly a calming spot to talk shop.

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