BEIJING Nov 29 Volkswagen AG and
FAW Group have agreed to extend their partnership beyond its
expiration date of 2016, the German automaker said on Thursday,
brushing aside reports by some German media outlets that FAW
infringed on Volkswagen's intellectual property rights.
The joint venture, which makes Volkswagen and Audi cars,
will also expand its product portfolio, Volkswagen said, without
The extension comes just days after Volkswagen committed to
invest 14 billion euros ($18.07 billion) in China over the next
four years. It also highlights the importance of the Chinese
market where General Motors and other carmakers are
increasing their presence.
In a brief statement, VW said neither of the venture
partners had infringed on one another's rights in the past
years. That was VW's first public clarification since German
media earlier in the year accused FAW of infringing on
Volkswagen's intellectual property rights, citing sources.
Volkswagen also operates a car venture in China SAIC Motor