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VW Confirms New Car Plant in China
Volkswagen AG has started construction of a new 12 billion-yuan (€1.5 billion) assembly plant in Changsha, China, with joint venture partner Shanghai Automotive Industry Corp.
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Volkswagen AG has started construction of a new 12 billion-yuan (€1.5 billion) assembly plant in Changsha, China, with joint venture partner Shanghai Automotive Industry Corp.
VW says the factory in south central China is scheduled to open in 2015 with annual capacity of 300,000 vehicles. The company has not disclosed what models it plans to build there.
The Changsha facility will help VW attain its goal of boosting annual capacity in the country to 4 million vehicles by 2018 from 2.6 million units, according to the company. VW says the new factory is part of its plan to invest €9.8 billion through 2015 in Chinese projects with joint venture partners SAIC and FAW Group Corp.
Separately, Bloomberg News reports that the German carmaker intends to produce vehicles for a new budget brand for China with FAW in about three years. The news service cites unidentified sources.
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