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October 23, 2021

2 Volkswagen factories and 123 helicopters during Merkel visit

China and Germany signed a series of trade and investment deals on Monday during a visit by Chancellor Angela Merkel, including agreements on two new Volkswagen factories and the sale of 123 Airbus helicopters, standartnews.com informs, her seventh since coming into power in 2005. She was accompanied by executives from Siemens, Airbus, Lufthansa and Deutsche Bank among other companies, according to German media. According to a statement by Volkswagen, the German carmaker will build two new vehicle plants in the northern port city of Tianjin and Qingdao in the east as it invests EUR 2 billion (USD 2.7 billion) along with Chinese auto manufacturer FAW. Airbus announced that its helicopter division has signed contracts to sell “a record” aircraft over up to six years to three Chinese companies. No financial details were provided. Also on Monday German airline group Lufthansa said it had signed a memorandum of understanding to form a joint venture with Air China.

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