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VW plans to double capacity in Foshan
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Volkswagen AG plans to double production capacity at a newly opened factory in south China’s Foshan City, its China chief executive said yesterday, as Europe’s No.1 carmaker ramps up efforts to grab more market share in a region dominated by Japanese rivals.
Volkswagen officially opened the plant in Foshan in Guangdong Province, which it operates under a venture with state-owned automotive enterprise FAW Group Corp.
The plant, capable of producing 300,000 vehicles a year, recently started to manufacture the redesigned Volkswagen Golf.
Volkswagen officials said the German automaker, one of the first global automakers to establish car production facilities in China during the 1980s, is today evolving its China operations by leading a “Go South” strategy, as well as a “Go West” strategy.
“Foshan is part of our ‘Go South’ strategy,” Volkswagen’s China CEO Jochem Heizmann said in Foshan yesterday. “Two years ago, we launched our ‘Go West’ strategy, building a plant in Chengdu.”
Now Volkswagen is trying to repeat the feat through building a plant in Foshan and expanding it quickly, according to Heizmann.
He also disclosed that Volkswagen was in discussions with FAW to raise its stake in their joint venture to 50 percent from 40 percent.
The planned expansion at Foshan aims to boost the plant’s capacity to 600,000 vehicles a year with an investment of 15.3 billion yuan (US$2.5 billion).
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