Latest News:  
Beijing   Sunny    2 / -7   City Forecast

People's Daily Online>>China Business

Shanghai VW is on track for 6th factory

By Jin Jing (Shanghai Daily)

10:58, January 09, 2012

SHANGHAI Volkswagen Automotive Co will open its sixth factory on the Chinese mainland as it drives to entrench its leading market position and tap the long-term growth of the domestic automobile market.

The plant, located in Ningbo, Zhejiang Province, will begin production in 2014 and able to produce 300,000 cars per year. It expects to employ several thousand employees by 2015.

Shanghai Volkswagen, the venture of Volkswagen AG and SAIC Motor Corp, has been boosting production capacity on the mainland, the world's largest auto market, despite sales growth in the industry last year estimated to plummet to a tenth of the pace in 2010.

Karl-Thomas Neumann, president and CEO of Volkswagen Group China, said the Ningbo plant is part of a 14 billion-euro (US$18 billion) investment program on the mainland by 2016.

"With our unprecedented investment program, we intend to increase our capacities in the mainland to three million vehicles per year by 2013/14," he said.

"We will introduce more models to the market and strengthen our leading position in the Chinese passenger car market," Neumann added.

Email|Print|Comments(Editor:雪萌)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Policewomen undertake security duties

  2. Afghan horse riders play "buzkashi" in competition

  3. New Year decorations selected at China Commodities City in Yiwu

  4. Hainan surfing festival attracts competitors all over the world

Most Popular

Opinions

  1. Give up copying US standards without question
  2. How to make 3 billion trips in 40 days
  3. Greater say needed on yuan's convertibility
  4. Much ado about new stamps and dragons
  5. China takes frank, open stand on Myanmar issue
  6. Pentagon plan changes game in Asia
  7. Will Japan's economy recover in 2012?
  8. It is the China naysayers who are doomed to fail
  9. Common development with neighbors
  10. Japan's case of flawed priority

What's happening in China

Fake ‘foreign’ formula

  1. IKEA issues faulty highchair recall
  2. 13,000 officers in hunt for Nanjing killer
  3. 36 Chinese leading officials face probe in 2011
  4. Job woes see postgrad applications soar
  5. Chinese begin holiday travel rush

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance