Nov. 5, 2012 (China Knowledge) - Shanghai Volkswagen Automotive Co Ltd, a 50:50 joint venture between Shanghai Automotive Industry Corp (SAIC) and Germany-based Volkswagen AG, has announced it will set up a new plant in Changsha Economic and Technological Development Zone.
The new plant, which will cost RMB 12.08 billion, will have an annual output capacity of 300,000 vehicles. The Changsha plant is expected to bring Shanghai Volkswagen's annual capacity to exceed 2 million units.
At present, Shanghai Volkswagen Automotive had five plants, with an annual output capacity of 1.4 million units. Meanwhile, the automaker had two plants under construction.
In 2011, the Shanghai based
automaker saw its auto sales amount to 1.15 million units, reflecting a YoY increase of 14.9%, including 0.93 million units of Volkswagen brand vehicles, up 16.1% YoY.