CHINA: Volkswagen building new 300,000 unit car plant
The Volkswagen Group on Thursday said it would build a new vehicle production plant in Yizheng, in China's eastern Jiangsu Province, as part of its long-term growth strategy for the market. Contracts were signed today by management board production chief Jochem Heizmann and Winfried Vahland, president and CEO of Volkswagen Group China, together with representatives of long-standing, local joint venture partner Shanghai Volkswagen. The plant will start operating in 2013 and have annual capacity of up to 300,000 vehicles.
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