German firm is in talks with China's FAW

Germany-based auto conglomerate Volkswagen AG may take a larger stake in its Chinese joint venture with local partner FAW Group Corp, the head of VW in China said.

"We are now in very good discussions with our Chinese partner FAW on further cooperation for our joint venture, FAW Volkswagen Automotive Co Ltd, possibly in the equity area," said Jochem Heizmann, board member of Volkswagen and president and chief executive officer of Volkswagen Group China.