Volkswagen has committed an extra 1.6 billion euro (£1.4bn) towards its expansion into China. The money will chiefly go towards the construction of two new plants.
The Volkswagen Group’s sales were up 60.9 per cent in the first quarter of 2009 to 457,259 units and seven new models will be launched by the firm in China this year.
The latest investment brings VW’s total financial commitment to the country over the next three years to 6bn euros (£5.2bn).
"With these investments, we intend to boost the introduction of new models and advanced technologies on the Chinese market,” said VW chief Martin Winterkorn.
“The Volkswagen Group is convinced that these investments will maintain our market leadership in China and also allow us to take a leading position in the field of alternative propulsion technologies.
“We will reach our long-term target of doubling our sales to two million vehicles according to plan.”
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Re: VW's two new China plants
Re: VW's two new China plants
Now this is when Volkswagen will slowly go down. I only like Volkswagens because its German.