German Automakers, China to Sign Billion-Dollar Deals

Topics:  Daimler AG, Volkswagen

VOA Breaking News (Voice of America)
January 6, 2011 at 7:52 pm

More German Daimler and Volkswagen cars will be driven on Chinese streets under deals scheduled to be signed Friday by automakers of both countries.

The German foreign office made the announcement on its website Thursday, and officials with Daimler confirmed the plan.

Europe's largest automaker, Volkswagen AG, is expected to sign deals which sources say could be worth about $5 billion.

The agreements are expected to be inked during Chinese Vice Premier Li Keqiang's current visit to Germany, part of a three-country European tour. The trip is designed to cement economic ties between China, the world's second largest economy, and Europe, one of its most important trading partners.

On Thursday, Li met with German Deputy Chancellor Guido Westerwelle and Economy Minister Rainer Bruederle in Berlin. Li is scheduled to meet with German Chancellor Angela Merkel on Friday.

Li has already visited Spain and heads next to Britain.