Beijing WKW Automotive Parts Co is to invest 1.13 billion euros in an electric-car factory in Saxony (eastern Germany) that will create over 1,000 new jobs.
Regional Economy Minister Martin Dulig said: “Saxony is already a car state, and we want that to remain so in the future. WKW will benefit from its proximity to about 750 car-part suppliers in the region. It hopes to benefit from
a Made in Germany cachet for its cars.”
German automotive analyst Ferdinand Dudenhoeffer from the University of Duisburg-Essen’s Centre for Automotive
Research, expressed concern about the investment.
“WKW is a medium-size parts supplier without the competency to build cars, and German wage levels are prohibitive. It is very hard to imagine innovative design coming from the plan.
“This is a big announcement, but will it ever see the light of day? I have my doubts.”