China’s Beijing WKW Automotive Parts Co. is betting on the future of electric mobility in Germany with a billion euro factory nearby plants owned by Volkswagen AG and BMW AG.
Beijing WKW will invest as much as 1.13 billion euros ($1.24 billion) on an electric car factory in the eastern state of Saxony that will create over 1,000 new jobs, according to a statement by the regional government May 4. Saxony courted WKW to set up manufacturing in the state to produce “premium” electric cars, according to the statement.
“Saxony is already a car state and we want that to ...