Volkswagen has announced that it will boost R&D spending on its joint-venture with China’s Shanghai Auto. The German automaker has already spent $400 million on its Chinese research facilities in preparation for the launch of all-new models. The first cars produced by the joint-venture will bow next year.
“The model is mainly designed in China by Shanghai-Volkswagen, but it will still carry the Volkswagen brand,” a VW spokesperson said.
Volkswagen is also planning to export the vehicles to Europe and the U.S. in the future, although the automaker failed to mention a time frame.
