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Volkswagen Looking for New Chinese Factory
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Posted on
Apr 09 2008 1:01 PM
by
adnana
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German news publication Handeisblatt is reporting that Volkswagen is looking for ways to increase its output in the booming Chinese auto market. The automaker is reportedly looking at purchasing an existing Chinese facility, or a Fiat plant within the country as a means of extending production.
Winifried Vahland, head of VW China, has said that the current VW facilities are “running at full capacity,” indicating that the company will definitely look to increase its production to meet strengthening demand.
Volkswagen has set goals of selling 1 million cars in China this year and to make the market the company’s biggest outside of Germany by next year. VW is also said to be planning yearly investments of 750 million euros until 2010 to help meet these lofty targets.
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