Volkswagen plans over 1 billion euro investment in software JV in China – sources

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Trucks at the IAA Transportation fair in Hanover

BERLIN (Reuters) – Volkswagen is planning a significant investment in a joint venture in China for software production, sources with knowledge of the matter said on Thursday.

An official announcement is expected next week, one person close to negotiations said. A second source said the investment would be above 1 billion euros ($990.60 million).

Volkswagen declined to comment.

($1 = 1.0095 euros)

(Reporting by Jan Schwartz, Writing by Victoria Waldersee, Editing by Miranda Murray)