Volkswagen Group of America on Jan. 14 announced formation of a new company, Volkswagen Group of America Chattanooga Operations, LLC, for its $1 billion-plus plant in Chattanooga that is nearing start of construction. Along with the announcement, VW released an aerial rendering of the facility. Equipment procurement for the paint shop has been issued, and more than 10 meetings with additional suppliers were scheduled for the week of Jan. 12 alone, according to the company. The company plans to produce a midsize sedan at an initial annual production volume of about 150,000 units at the plant. Production is scheduled to begin in early 2011.