11-26-2011, 04:32 AM #1
Volkswagen set to invest $19 billion in China
$19 billion is a lot of dough. It seems Volkswagen thinks it is worth putting this much money in China and intends to do so in between 2012 and 2016. The automaker expects the Chinese market to grow significantly even though it has cooled as of late. VW will launch 50 additional models in China by 2015. VW is on pace to sell 2 million cars in China this year and expects a steady increase of 15% per year.
President of VW China Karl-Thomas Neumann stated, "The steady growth will make 2011 the most successful year for Volkswagen in China. VW is very optimistic on car demand in the country in the medium term."