SHANGHAI: Volkswagen AG (VW), Europe’s largest automaker, and its partner China FAW Group Co plan to invest US$1.1bil in a new plant which will more than double the venture’s production capacity.
The plant, to be built in the north-eastern Chinese city of Changchun, would have an annual capacity of 330,000 cars when completed in 2007, said Wang Miye, a spokesman for FAW-Volkswagen Automobile Co, which is 40% owned by VW. – Bloomberg
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