VW to construct new plant in China

  • 25-Jun-2010 03:10 EDT

Beginning with a new €520 million plant in Foshan, near Guangzhou in Quangdong province, Volkswagen plans to double vehicle production capacity in China by 2014 to 3 million units annually. Officials of VW and one of its Chinese partners, FAW, signed an agreement in June for the 300,000-unit Foshan plant. Production is slated to begin in mid-2013 at this, VW's 10th China plant, which will include stamping, body, paint, and assembly functions. The company operates plants with FAW and another Chinese partner, Shanghai Automotive Industry Corp. Through May, Volkswagen Group China sold about 778,000 vehicles, a 48% increase in volume over the same period of 2009.

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