VW's Phideon is a revamped Phaeton for the Chinese market
The VW Phaeton was the brand's super-luxurious sedan that shared the Bentley's platform and many of its amenities. While it was an impressive feat of engineering, the Phaeton cost too much and was hell to maintain. Some owners considered it one of the best cars VW ever built and a second hand market of collectors swore by the luxury and performance on a budget that the Phaeton offered.
Now that China is one of the most voracious consumer economies and with a growing taste (and budget) for the finer things life can offer, the Phaeton suddenly makes a lot of sense. VW is a particularly strong brand in China and has been for many years so, in a way, ushering an ultra-luxe platform under the Phideon monicker (essentially a new Phaeton).