Volkswagen Group and SAIC Motor have signed an extension of their joint venture agreement until the year 2040. By extending the agreement, the partners say they are creating ‘early planning security beyond 2030 in a very dynamic development phase of the Chinese automotive market’.

To mark the 40th anniversary of their joint venture agreement, Volkswagen and SAIC have extended their cooperation until 2040. The partners are focussing on an accelerated electrification strategy - including,

China's SAIC Motor and German car group Volkswagen AG have extended their joint venture by 10 years, prolonging their collaboration at SAIC Volkswagen until 2040. This agreement, which was signed on Tuesday, marks the second renewal of the partnership, highlighting the success of Sino-German cooperation in the automotive sector.