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.December 03, 2003
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This Week:

• Aston Martin DB9 Volante

• Cooking With Style: Buick Teams With Renowned Chef Ming Tsai For Rainier Recipes

• DaimlerChrysler continues global fight against HIV/AIDS

• Nissan Europe Appoints New Senior Vice President

• BMW Launches Unprecedented On-Line Game Starring New X3

• Banque PSA Finance opens office in China

• Magna in discussions with DaimlerChrysler regarding New Venture Gear

• Chrysler Group Announces New Controller - Donlon to Retire; Olsen from DaimlerChrysler Services Named

• Ford Names Michael J. McCarney As New Asean President

• Volkswagen intensifies collaboration with FAW in China

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Volkswagen intensifies collaboration with FAW in China

Contract extended by 25 years Wolfsburg - Volkswagen has now taken a major step towards intensifying and expanding its activities in the People's Republic of China and will deepen further its collaboration with China FAW Group Corporation (FAW), Changchun. At an event attended by German Federal Chancellor Gerhard Schröder and Chinese Prime Minister Wen Jiabao a letter of intent for this cooperation was signed by Dr Folker Weißgerber, Member of the Board of Management of Volkswagen AG and Dr Bernd Leißner, President of the Asia/Pacific Region at Volkswagen as well as Zhu Yanfeng, President of FAW, and Teng Tieqi, Vice President of FAW, on 1 December 2003 in the Great Hall of the People in Beijing.

The letter of intent outlines an expansion and intensification of cooperation on a broad front including the manufacturing of new products and the establishment of further joint ventures for, among other things, component production. In connection with the expansion of the companies' collaboration it is planned to extend the term of the joint venture company FAW-Volkswagen by 25 years.

Volkswagen and China FAW Group Corporation are partners in the successful company FAW-Volkswagen in Changchun, Jilin Province, which produces the models Jetta, Golf and Bora as well as the Audi models A4 and A6. The company is the second largest supplier of passenger cars in China, the largest being Shanghai Volkswagen.

(Dec 01, 2003)