BEIJING, Oct. 19 (UPI) -- Volkswagen AG, China's biggest foreign carmaker, will stop making new investments in China to help cut costs.
Instead of investing more in the world's third-largest car market, VW will instead try to increase cooperation with partners FAW Group Corp. and Shanghai Automotive Industry Corp. -- including centralizing purchasing and using more local components, Xinhua said Wednesday.
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VW is trying to reverse a declining market share and boost profitability.