CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

VW's two southern plants approved by NDRC

07-04-2011 16:40 BJT

By Xu Xiao (China Daily)

BEIJING - German carmaker Volkswagen recently announced that its two new plants have been approved by the National Development and Reform Commission, the country's top economic planner.

A Volkswagen's production line in Chengdu. [Photo/China Daily]

The facilities will boost the auto giant's annual production capacity in the country to 3 million units, said Karl-Thomas Neuman, president and CEO of its China operation.

The new plants in Foshan, Guangdong province and Yizheng, Jiangsu province each has a planned production capacity of 300,000 units.

Earlier reports said that the Foshan facility will require an investment of 13.3 billion yuan ($2.1 billion) in its first phase and is expected to enter production in 2013.

It will produce the latest-generation Golf, the company said. Discussions are underway with Audi to make some models of the luxury brand owned by Volkswagen.

"China has become the world's biggest auto market, and has even greater potential in the future," said Martin Winterkorn, board chairman of Volkswagen AG.

"Volkswagen Group will continue making advanced and environmentally friendly models in China. It will also expand production capacity," he added.

To meet growing demand, Volkswagen said it will invest 10.6 billion euros ($15.4 billion) from 2011 to 2015 to expand operations in the country.

In addition to the Foshan and Yizheng plants, the company said it will increase production at two other new plants - a SAIC Volkswagen plant in Nanjing and FAW Volkswagen facility in Chengdu - to 300,000 and 350,000 units respectively.

Over the first five months of 2011,VW's passenger vehicle sales in the country accounted for 13.7 percent of the market, according to statistics released by JD Power.

Volkswagen and its Chinese partners delivered 1.92 million vehicles in 2010.

It sold 548,400 vehicles in the first quarter of 2011, 19.9 percent more than the same period of 2010.

Its major competitor General Motors sold 686,000 vehicles in the period, a 10 percent increase over the same period last year.

Editor:Wang Chuhan |Source: China Daily

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program