For sure, China is a very important market for a few automakers and VW makes really no exception. The brand from Germany has announced they will invest 4 billion euros on all-new products and production capacities expansion in China, having most of its capital to be now sourced from the local joint ventures of Volkswagen Group.
It will boost the Nanjing, Chengdu plants production to 300,000 - 350,000 models by 2012, creating extra production plants with paint, assembly, and body shops.
'For the Volkswagen Group, China is one of the most important markets in the world We are already well-positioned there with a broad product portfolio' stated Prof. Dr. Martin Winterkorn, Chairman - Board Management - Volkswagen Aktiengesellschaft. 'Demand for our models is growing so dramatically that our capacities in China are no longer sufficient. Our investment decision has laid the foundations for continuing the Group's success in China in the future' Winterkorn continued.
'In China, we will see clear double-digit growth in 2009 and expect to remain the market leader in the future. Volkswagen Group China is well on the way to reaching the target of doubling sales to two million vehicles laid down in our Strategy 2018 earlier than planned' said Dr. Winfried Vahland, President, CEO of VW Group China.
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