VW to Double Capacity in China

Volkswagen AG now aims to boost its annual capacity in China to 4 million vehicles by 2016, up from the 3 million-unit target it announced in January, Germany's Focus reports.

VW board member Jochem Heizmann who was named early this month to take charge of Chinese operations on Sept. 1 tells the magazine the new goal is roughly twice the company's current capacity in China. He did not elaborate on how VW plans to add 1 million units of annual capacity in 2017-2018.

The previous 3 million-unit goal is part of the company's €14 billion expansion plan that runs through 2016. VW announced in April that it intends to open its fifth Chinese assembly plant in 2015 with capacity of 50,000 units.