VW plans to have more than 100,000 workers in China by 2018, as the automaker aims at expanding production capacity in the region.
Today, April 19th, VW said that it currently has 75,000 employees in China and that it plans to increase this number to over 100,000 by 2018, as it aims at setting up seven new plants in the region, five of which will begin production by the end of this year. The German automaker’s production capacity in the world’s biggest auto market will be increased from 2.6 million units annually to more than 4 million units per year.
VW said that it will also start manufacturing and selling EVs in China probably at the beginning of 2015. The company will invest 9.8 billion euro by 2016 to expand in the Asian country, part of the money being used to build a new plant, which will be located in Hunan’s capital of Changsha. The rest of the investment will be used to boost marketing and R&D work for new energy vehicles.
“VW’s future is increasingly being decided in China, Russia, India, the Americas and Southeast Asia,” said VW CEO Martin Winterkorn. “The relative importance of the markets is shifting.”