A few months ago, Volkswagen extended its joint venture contract with Chinese partner FAW for another 25 years, with appropriate pomp and circumstance: Chinese Prime Minister Wen Jiabao and German Chancellor Angela Merkel witnessed the signature.
Now, Volkswagen takes the unusual step of going semi-public with the theft of intellectual property. According to reports in German media, FAW has “systematically and repeatedly” stolen designs of important components such as engines and transmissions. Volkswagen’s hands are tied.
Volkswagen managers caught partner FAW stealing designs for the Volkswagen transmission MQ 200, writes Germany’s Handelsblatt in a long article which names several (albeit anonymous) Volkswagen managers as sources. “It’s a catastrophe,” a VW exec told the paper.Read Article