China signs letter of intent to cooperate with three German automakers

The National Development and Reform Commission (NDRC) of China signed letter of intent with Volkswagen on Monday (19 June) and also with BMW and Mercedes-Benz on Tuesday (20 June) in Berlin, according to news releases posted by the Chinese economic regulator.

The moves aim to deepen cooperation in the automotive industry between China and Germany, as well as drive the R&D and wide adoption of new energy vehicles.

The National Development and Reform Commission (NDRC) of China has signed letter of intent with Volkswagen and two other German automakers.

According to the NDRC, the commission also signed letter of intent to cooperate with BASF and Airbus, in a bid to enhance cooperation in various fields, including new chemical material technology, low-carbon product production, and sustainable aviation fuel utilization.

The agreements are part of the first trip to Europe of China's new Premier Li Qiang since he took office in March, 2023. During the visit, he also witnessed the signing of the agreements between the NDRC and the European manufacturing conglomerates.