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VW to Build New Factory in China
Volkswagen AG will unveil plans this week to erect a 10 billion-yuan (€1.2 billion) assembly plant in Changsha, China, Frankfurter Allgemeine Zeitung reports without citing its sources.
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Volkswagen AG will unveil plans this week to erect a 10 billion-yuan (€1.2 billion) assembly plant in Changsha, China, Frankfurter Allgemeine Zeitung reports without citing its sources.
The newspaper says VW plans to open the factory in 2016 with annual capacity of 300,000 vehicles. FAZ adds that Shanghai Automotive Industry Corp. will likely be the company's partner in the joint venture. VW also builds vehicles in China with FAW Group Corp.
The new facility would be part of VW's previously announced €9.8 billion investment in China in 2013-2015. The company said last month it will introduce a no-frills brand in the country by 2015 in cooperated with an unspecified local partner.
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