SinoCast reports that Volkswagen AG is set to make an additional investment of USD 900 million in a plant in Andhra Pradesh, Southern India, owning to its sagged sales in the Chinese market this year.
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A report cited that a top official for the Andhra Pradesh Industry Department recently said that VW had determined to build a plant there and would release the details and construction plan. The new plant is said to cover an area of 141 hectares and bring 10,000 jobs to local people.
Sinocast reported that ‘an industry expert’ pointed out that VW could not keep its top position in the Chinese auto market, after rival GM, PSA Peugeot Citroen, Honda and Nissan put more efforts to gain slices there, although China was VW’s largest overseas market.
VW took a 90% share in the Chinese market, when it brought in Santana for the first time in 1985. However, its share gradually declined after more and more competitors jumped into the market. It held a 50% share in 2001, 40% in 2002, and 32% in 2004.
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