Cars

SVW to co-develop new luxury sedan

(China Daily)
Updated: 2011-05-09 11:21

Shanghai Automotive Industry Corp recently signed an agreement with Volkswagen Group to co-develop a luxury sedan at their joint venture in China, the first of its kind in the VW brand's global portfolio.

Shanghai Volkswagen said in a statement that the new sedan will be locally produced for the Chinese market, but sources familiar with the deal said the car is also likely to sell internationally.

The company did not reveal a timetable for development of the model.