Shanghai VW to build plant in Jiangsu
By Jin Jing |
July 16, 2010, Friday
|
Print Edition
Print Edition
SHANGHAI Volkswagen yesterday announced it will build a new plant in Jiangsu Province as its German parent pushes ahead with aggressive expansion in the world's biggest auto market.
The new plant will be in Yizheng City and will start production at the end of 2012. The plant will employ more than 3,000 workers and have an annual capacity of 300,000 units, according to a statement from Shanghai Volkswagen.
A signing ceremony was held yesterday in Nanjing, capital city of Jiangsu.
"The new facility will allow us to broaden product mix and meet growing market demand," the statement said.
The new plant is part of Volkswagen's ambition to boost its presence in China.
At the end of April, Volkswagen announced it will invest 1.6 billion euros (US$2.1 billion) in China to build two new plants as it gears up to sell 2 million units annually in China.
Volkswagen's other venture with FAW Group Corp earlier said it will build a 300,000 unit plant in Foshan City, Guangdong Province, to produce VW and Audi vehicles from 2013.
Industry analysts said the plant's location in Yizheng would make better use of Shanghai Volkswagen's existing resources and help lower costs by consolidating operations with its other two production bases.
Shanghai Volkswagen, the Wolfsburg, Germany-based auto maker's venture with SAIC Motor Corp, now has two production bases - one in Shanghai's Anting Town and the other in Nanjing.
The Yizheng plant will boost Shanghai Volkswagen's total capacity to about 1.2 million units annually.
Yizheng is also home to a SAIC plant.
Last year, Shanghai Volkswagen's sales jumped 46 percent to 729,000 units.
The new plant will be in Yizheng City and will start production at the end of 2012. The plant will employ more than 3,000 workers and have an annual capacity of 300,000 units, according to a statement from Shanghai Volkswagen.
A signing ceremony was held yesterday in Nanjing, capital city of Jiangsu.
"The new facility will allow us to broaden product mix and meet growing market demand," the statement said.
The new plant is part of Volkswagen's ambition to boost its presence in China.
At the end of April, Volkswagen announced it will invest 1.6 billion euros (US$2.1 billion) in China to build two new plants as it gears up to sell 2 million units annually in China.
Volkswagen's other venture with FAW Group Corp earlier said it will build a 300,000 unit plant in Foshan City, Guangdong Province, to produce VW and Audi vehicles from 2013.
Industry analysts said the plant's location in Yizheng would make better use of Shanghai Volkswagen's existing resources and help lower costs by consolidating operations with its other two production bases.
Shanghai Volkswagen, the Wolfsburg, Germany-based auto maker's venture with SAIC Motor Corp, now has two production bases - one in Shanghai's Anting Town and the other in Nanjing.
The Yizheng plant will boost Shanghai Volkswagen's total capacity to about 1.2 million units annually.
Yizheng is also home to a SAIC plant.
Last year, Shanghai Volkswagen's sales jumped 46 percent to 729,000 units.
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