Volkswagen boosts investment in China

Volkswagen has announced that it will add 1.6 billion euros to its investment program in China in order continue its development in the country’s car market. With the increment of 1.6 billion euros the total investment of Volkswagen in China will rise to 6 billion euros that will be used to maintain and reinforce its leading position on one of the most important markets in the car industry.

"Growth in the Chinese automobile market has exceeded everyone's expectations", said Prof. Dr. Martin Winterkorn, Chairman of the Management Board of Volkswagen Aktiengesellschaft. "The Volkswagen Group is already extremely well-positioned on this market of the future with an attractive product range. These additional investments will lay the foundations for a successful future for the Volkswagen Group in China", Winterkorn added.

The Supervisory Board of Volkswagen Aktiengesellschaft has confirmed that the casdh-flow of the Shanghai Volkswagen and FAW-Volkswagen joint ventures will be responsible for the financing of the investments in new models and additional capacities in China

"With these investments, we intend to boost the introduction of new models and advanced technologies on the Chinese market. The Volkswagen Group is convinced that these investments will maintain our market leadership in China and also allow us to take a leading position in the field of alternative propulsion technologies. We will reach our long term target of doubling our sales to two million vehicles according to plan", said Dr. Winfried Vahland, President and CEO of Volkswagen Group China.

The Volkswagen Group will be launching this year a total of seven new or updated models produced locally on the Chinese market. Of these some have already positioned successfully on the market in the first quarter, such as the Golf GTI, the Tiguan LWB (long wheelbase) and the updated versions of the Jetta A2 and the Škoda Octavia.

At this year’s Auto China, Volkswagen will be presenting the CC model that should join the Chinese product lineup  that includes: Volkswagen Polo (notchback and hatchback), Cross Polo, Lavida, Santana, Santana Vista, Passat New Lingyu, Touran, Tiguan LWB (long wheelbase), Golf, Golf GTI, New Bora, Jetta, Sagitar and Magotan as well as the Škoda Fabia, Octavia und Superb and the Audi A4 L (long wheelbase), Audi A6 L (long wheelbase) and Audi Q5.