Volkswagen, the renowned automaker, has recently confessed its love for China by announcing its plans to conquer the heart of the nation. Their secret weapon? Karaoke machines! Not only that, but they’re also willing to spend billions on local partnerships and production sites, keeping in line with their theme, “In China for China.” It’s safe to say that Volkswagen has a major crush on China.
BASF, currently having an impressive 30 production facilities in China, is like a giddy school kid making a grand romantic gesture. They’re planning to spend a cool 10 billion euros ($10.9 billion) on a new chemical production complex intended to rival the charm and beauty of their massive headquarters complex in Ludwigshafen, which, by the way, sprawls over four square miles. Talk about going big or going home.
Meanwhile, back in Germany, the top brass is fully aware that these huge declarations of affection might cause some ruffled feathers among those who want to keep China and the global economy in the “just friends” zone. However, German executives argue that they need this sweet Chinese dough to keep their own relationship with Europe thriving and that love, or rather business, must prevail.