Volkswagen approval
By Jin Jing |
June 29, 2011, Wednesday
|
Print Edition
Print Edition
GERMAN auto maker Volkswagen AG yesterday said it has won approval from the Chinese authorities to build two additional plants in China in an attempt to boost production capacity by 3 million units over the next five years.
The two new car manufacturing plants - one in Foshan, Guangdong Province, and the other in Yizheng, Jiangsu Province - will each have an annual production capacity of 300,000 units, the auto maker said.
"China has become the world's largest auto market and still has enormous growth potential in the future," Volkswagen CEO Martin Winterkorn said.
The two plants were part of Volkswagen's 10.6-billion-euro (US$15.2 billion) investment in China between 2011 and 2015.
The car maker is also planning to increase annual output to 300,000 units at the Nanjing plant of its venture Shanghai Volkswagen and to 350,000 units for its Chengdu plant, which is owned by another venture FAW-VW.
The two new car manufacturing plants - one in Foshan, Guangdong Province, and the other in Yizheng, Jiangsu Province - will each have an annual production capacity of 300,000 units, the auto maker said.
"China has become the world's largest auto market and still has enormous growth potential in the future," Volkswagen CEO Martin Winterkorn said.
The two plants were part of Volkswagen's 10.6-billion-euro (US$15.2 billion) investment in China between 2011 and 2015.
The car maker is also planning to increase annual output to 300,000 units at the Nanjing plant of its venture Shanghai Volkswagen and to 350,000 units for its Chengdu plant, which is owned by another venture FAW-VW.
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