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VW to Boost Investment in China
Volkswagen AG, whose sales in China jumped 16% last year, says a lack of capacity will limit this year's growth to about 10%. The group said last year it will spend nearly $23 billion in China to boost local capacity to some 4 million vehicles per year by 2018.
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Volkswagen AG, whose sales in China jumped 16% last year, says a lack of capacity will limit this year's growth to about 10%.
The group said last year it will spend nearly $23 billion in China to boost local capacity to some 4 million vehicles per year by 2018.
But VW China President Jochem Heizmann tells reporters ahead of the Guangzhou auto show that the company will deliver 3.6 million Audi, Skoda, Porsche and VW vehicles in the country this year.
VW's current investment schedule assumed a conservative 5% sales growth rate, which has fallen behind actual demand, Heizmann notes. He says the company intends to increase investment in Chinese manufacturing by an unspecified amount.