Is Shanghai Volkswagen a state-owned enterprise or a private enterprise?

1. SAIC Volkswagen Co., Ltd. (hereinafter referred to as SAIC Volkswagen) is a Sino-German joint venture. The investment ratio between China and Germany is: 50% of Shanghai Automotive Group Co., Ltd., 40% of Volkswagen Group of Germany, Volkswagen (China) Investment Co., Ltd. 10%.

2. On December 11, 2015, Shanghai Volkswagen Co., Ltd. officially issued a name change announcement. In the announcement, it was pointed out that with the resolution of the company’s board of directors and the approval of the State Administration for Industry and Commerce, starting from December 7, 2015, Shanghai Volkswagen Volkswagen Co., Ltd. changed its name to SAIC Volkswagen Co., Ltd.

In November 1978, Deng Xiaoping, the chief architect of China’s socialist reform, opening up and modernization drive, gave personal instructions, officially kicking off the negotiations for Sino-foreign joint ventures in automobiles. After six years of rigorous negotiations, in October 1984, China and Germany held a grand joint venture contract signing ceremony at the Great Hall of the People in Beijing, and Shanghai Volkswagen came into being amid the tide of reform and opening up.

On the road of exploring joint ventures in China's automobile industry, Shanghai Volkswagen has faced difficulties and continued to explore, and has embarked on a path of utilizing foreign capital, introducing technology, and rolling development, which has provided a good foundation for China's automobile industry, especially in the last century. The rapid development of the automobile industry in the mid-to-late 1990s provided new development concepts and successful practice models.