China's President Xi, VW CEO Winterkorn Watch A Ball Game After A Long Week

Mar 29 2014, 12:56pm CDT | by

Chinese President Xi Jinping joined Volkswagen CEO Martin Winterkorn for a friendly football (soccer) match in Berlin between young players from China and Germany on Saturday, the last day of a whirlwind two-day visit aimed at strengthening economic ties between the two countries.

Volkswagen has agreed to produce eco-friendly models with its two Chinese partners, Shanghai-based SAIC Motor Co.  and First Automotive Works Group, and it got the green light for additional production capacity through the venture with FAW.

Daimler AG will also gain an increase in production capacity with its partner Beijing Automotve Industry Co., and BMW pledged to strengthen the ties with its Chinese partner, Brilliance Automotive Holdings Ltd, at a high-wattage ceremony Friday attended by Chancellor Angela Merkel and top Chinese and German industry leaders.

Xi called for a “quantum leap” in the business relations between the two countries.  Germany is China’s leading trading partner in Europe, its second-biggest trading partner after the United States, and Volkswagen established one of the earliest and biggest joint car-making ventures with a Chinese company 30 years ago.

VW and its venture partners plan to invest €18.2 billion to build factories and develop models for China between 2014 and 2018.  They produced and sold more than 3 million vehicles in China last year and aim to increase that to 4 million by 2018, when VW aspires to be the global industry leader.

Xi visited VW’s headquarters in nearby Wolfsburg on Saturday morning, and then  he and his wife joined Winterkorn at the Berlin Olympics site for the match, sponsored by the Rainbow Bridge Project, a Chinese initiative that offers vocational training and football/soccer coaching to young Chinese people from poor regions, VW has been a sponsor since 2013.

Winterkorn, an avid football/soccer fan, can be seen often at matches in Wolfsburg, at times with Bernd Osterloh, VW’s highest-ranking employee representative. It’s perhaps a relaxing place to talk shop.

Source: Forbes Auto

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

IPad Air Giveaway 2014 is Online
IPad Air Giveaway 2014 is Online
Our sister site I4U News is giving away a brand new iPad Air or if you can wait an iPad Air 2. This is an $499 value.
 
 
Your Parent Or Kid Moved In: Are You Covered?
A record 57 million Americans now live in multigenerational family households — double the number in 1980, according to a new Pew Research Center study. And I bet many of them have the wrong homeowner’s or renters...
 
 
Pandora Looks to Challenge Terrestrial Radio's Dominance in Cars
Pandora Media is one of the largest Internet radio providers in the U.S. with more than 75 million active users. While the company’s active user count has increased at a robust pace historically, it is likely to slow...
 
 
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
It’s January 2026. New York Yankees owner Hal Steinbrenner gets out of his driverless car and triumphantly marches before the gathered press to introduce his prized new free agent. It’s a record-breaking contract—over...
 
 
 

Latest from the Network

Indian appointed to UN peacekeeping panel
United Nations, Nov 1 (IANS) UN Secretary General Ban Ki-Moon has appointed Abhijit Guha, a retired Indian Army Lieutenant General, to a high-level panel to assess UN peace operations. Announcing the formation of the...
Read more on Politics Balla
 
Kim Kardashian wants to loose 10lb
Los Angeles, Nov 1 (IANS) Reality TV star Kim Kardashian, who shed weight after the birth of her daughter last year, is keen to loose 10lb (about 4.5 kg) more. She talked about loosing weight while talking to Grazia...
Read more on Celebrity Balla
 
US, EU to meet Iran over nuke talks
Washington, Nov 1 (IANS) US Secretary of State John Kerry will travel to Oman early next month for meetings with his Iranian and EU counterparts to push for a comprehensive deal over Tehran's nuclear programme by Nov...
Read more on Politics Balla
 
Amanda Bynes to remain under conservatorship
Amanda Bynes is set to remain under a conservatorship. A lawyer claiming to represent the 28-year-old actress, who was released from a psychiatric treatment facility in Pasadena, California on Thursday (10.30.14) after...
Read more on Celebrity Balla
 
Ben Affleck broke Jennifer Lopez's heart
Jennifer Lopez says Ben Affleck was the first guy who broke her heart. The 'Booty' hitmaker, who got divorced twice before she started dating the 'Gone Girl' actor in 2002, was completely devastated when they ended...
Read more on Celebrity Balla
 
Alicia Key's son is ready to be a big brother
Alicia Keys' son is ''so ready'' to be a big brother. The 33-year-old singer and husband Swizz Beatz are set to welcome their second child into the world on New Year's Eve (12.31.14) and says their four-year-old Egypt...
Read more on Celebrity Balla
 
UN warns of worsening food crisis in Somalia
United Nations, Nov 1 (IANS) A UN food agency Friday warned that poor rains in Somalia may worsen the country's food crisis, a spokesperson said. The Food and Agriculture Organisation (FAO) issued the warning that an...
Read more on Business Balla
 
1.26 mn uprooted Iraqis need shelter: UN
United Nations, Nov 1 (IANS) The UN Office for the Coordination of Humanitarian Affairs (OCHA) said that some 1.26 million internally displaced people (IDPs) throughout Iraq need shelter and basic supplies, UN...
Read more on Politics Balla
 
Price expects ghosts in new house
London, Nov 1 (IANS) Singer Katie Price feels that her new house is going to be full of ghosts. She recently moved into a west Sussex nine-bedroom mansion with husband Kieran Hayler and her five children. She's...
Read more on Celebrity Balla
 
Canada suspends issuance of visas to Ebola-hit African countries
Ottawa, Nov 1 (IANS) Canada has suspended issuance of visas to residents of West African countries with "widespread and persistent-intense transmission" of Ebola virus disease, a media report said Friday. The Canadian...
Read more on Politics Balla