VW to Tesla set to win from China removing ownership caps

Global companies could see a boost on the world's largest car market as China will now allow foreign car makers to own more than 50 percent of local ventures.

by bloomberg news

China will let foreign automakers from Volkswagen AG to Ford Motor Co. own more than 50 percent of local ventures, removing a two-decade restriction and giving a boost to global companies seeking to capture a greater share of the world’s largest car market.

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