Volkswagen AG’s joint venture with First Automotive Works Corp (FAW), one of the top Sino-foreign car partnerships, expects its 2007 profits to climb by at least a quarter, helped by brisk sales and cost-cutting efforts. The venture, FAW Volkswagen, in the northeastern city of Changchun, will have a “minimum” profit growth of 25 percent this year from 2006, said Joachim Wedler, its vice-president in charge of finance. Via english.people.com.cn