Volkswagen sees China’s passenger car market growing by between six and eight percent per year over the next 3-5 years, Jochem Heizmann, chief executive of Volkswagen Group China, said.
The multi-brand car company is also targeting growth matching the pace of the wider Chinese market, Heizmann told Reuters in Shanghai.
Go deeper with GlobalData
VW is aiming to lift its China sales target to 3m units this year, up from 2.8m in 2012, Heizmann said.
VW plans to increase its Chinese workforce by a third to more than 100,000 people by 2018 as the company continues to expand production capacity in the world’s biggest auto market.
VW said in a statement its number of workers in China will be increased from 75,000 to over 100,000 by 2018 as the group aims to set up seven new factories in China, five of which will already start production this year.
VW’s production capacity in China will grow from 2.6m cars per year to more than 4m automobiles.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataVW also plans to start selling and producing electrified automobiles in China from as early as 2014/15, Reuters reported.
