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Equity Bottom-Up

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Volkswagen AG’s China joint venture (JV) with state-owned SAIC Motor Corp. Ltd. (<a href="https://www.smartkarma.com/600104.SH" target="_blank" rel="noopener">600104.SH</a> +2.57%) is considering shutting down a combustion engine car plant in Nanjing as it accelerates its pivot toward electrification in the world’s largest auto market where demand for fossil fuel powered vehicles is weakening.
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The move would be part of efforts by SAIC Volkswagen Automotive Co. Ltd. to “upgrade and optimize” its carmaking capacity as it joins other automakers in increasingly focusing on producing electric smart vehicles in China, the JV told Caixin on Saturday.
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The plant in Nanjing, the capital of East China’s Jiangsu province, is where the JV produces the conventionally powered Passat, one of its flagship models. It is one of SAIC Volkswagen’s eight manufacturing facilities in the country.
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Volkswagen AG’s China joint venture (JV) with state-owned SAIC Motor Corp. Ltd. (600104.SH +2.57%) is considering shutting down a combustion engine car plant in Nanjing as it accelerates its pivot toward electrification in the world’s largest auto market where demand for fossil fuel powered vehicles is weakening.


The move would be part of efforts by SAIC Volkswagen Automotive Co. Ltd. to “upgrade and optimize” its carmaking capacity as it joins other automakers in increasingly focusing on producing electric smart vehicles in China, the JV told Caixin on Saturday.


The plant in Nanjing, the capital of East China’s Jiangsu province, is where the JV produces the conventionally powered Passat, one of its flagship models. It is one of SAIC Volkswagen’s eight manufacturing facilities in the country.




Volkswagen’s China JV Weighs Shuttering Car Plant as It Accelerates Shift to EVs 