Volkswagen Going To Invest Billion Dollar In China
According to Chinadaily German automobile conglomerate Volkswagen AG going to invest $1.95 billion (12 billion Yuan) to built its First Plant in Central China.
Volkswagen will set its new plant in partnership with China's SAIC Motor. Location of plant is fixed in Changsha, capital of Hunan province.
Estimated plant production is 300,000 unites annually, and its first lot will be come by early 2016.
Its main product line will be Skoda Octaviam and two other medium sized Sedan Model, Volkswagen AG, has planned to open 10 plant worldwide in coming future. And Volkswagen AG going to open 7 plant just in China.
China is now world's largest vehicle market and recently data shows that Volkswagen sales in china grow by 20 percent.
Volkswagen aims to increase its output in capacity in China from current 2.6 million to 4 million by 2018, estimating 35 percent annual growth.
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