The new joint venture for the Jetta brand is scheduled to be established in the fourth quarter of this year, and will incorporate local investment, although the identity of the investor remains undisclosed. On August 28, Volkswagen Group (China), FAW Group, and Chengdu Economic and Technological Development Zone inked a cooperation agreement, heralding the formation of a new Jetta brand company rooted in the FAW-Volkswagen Chengdu production base, alongside the incorporation of local investment.