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Business Brief -- Foreign Enterprises

November 16, 2018


Abstract : Business Brief -- Foreign Enterprises

Volkswagen likely to produce 50 mln electric cars starting from 2020 -- German carmaker Volkswagen Group (VW) may start to produce up to 50 million electric vehicles of various brands globally through its Modular Electric Toolkit (MEB) platform from 2020, reported media quoting Volkswagen Group CEO Herbert Diess. The corresponding battery purchase agreement has already been reached, said Diess. He also said that VW holds an open mind to authorize MEB platforms to third-party manufacturers, which is favorable for the expansion of the economies of scale.

CR929 engine set for joint development -- China and Russia plan to jointly develop the aero engine for the CR929, a widebody passenger aircraft that is being co-developed by the two countries, but this may require at least 10 years, said a Russian senior executive. United Engine Corp of Russia and Aero Engine Corp of China will together develop the engine for the CR929 at a later stage. At the moment, both countries have yet to master the related skills and will choose other engine suppliers, according to Rostec Corp, the parent company of United Aircraft Corp in Russia, which is responsible for CR929 project implementation on the Russian side. (Source: China Daily)

Philips signs strategic cooperation agreement with medical group -- Philips (China) Investment Co Ltd and the China Strategic Alliance of Industry Technology Innovation for Minimal Invasive Tumor Therapy, the only national association approved by the Ministry of Science in the field of clinical medicine, signed a strategic cooperation agreement on November 13 in Beijing to promote minimal invasive tumor ablation treatment. According to the agreement, Philips and the alliance will use integrated solutions that combine minimally invasive treatment and other cutting-edge technologies, such as artificial intelligence, to conduct extensive cooperation in doing scientific research and establishing standardized clinical applications protocols. (Source: China Daily)

ATR ready for take-off in China -- European turboprop manufacturer ATR, which makes planes with 90 seats or less, said it is bullish on the prospects of China's rapidly growing regional aircraft market, and foresees demand for 1,100 new turboprops in the nation over the next two decades. The regional aviation sector sees significant demand from business and tourism in less-densely populated second and third-tier Chinese cities, where there is less-developed road infrastructure and the development of high-speed railways faces obstacles, the company said. (Source: China Daily)

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