Volkswagen CFO: Shanghai Volkswagen to increase production of new Passat

Geely Automobile News According to Just-auto's website, Volkswagen is committed to increasing local production capacity and promoting product mix in China. It is now planning to increase production of Shanghai Volkswagen New Passat models.

At a public meeting of investors and analysts at Volkswagen’s new plant in Chattanooga, Tennessee, the public CFO Hans Dieter Potsch revealed that it will expand production capacity in East China and South China. The plan will involve the new Passat models made by Shanghai Volkswagen, but no specific capacity planning figures have been given. The new Passat was put into production and went public early this year.

A Volkswagen spokesman spoke to Just-auto in Germany: “Compared to the US version of the new Passat, China’s new Passat has the same wheelbase and engine, but no diesel-powered model; some specific performance differences, but The Passats we put into the Chinese and North American markets belong to the same specification.” In response to some “production of the US version of the Passat in China,” the spokesperson emphasized: “In some statements, it seems that the US version of the new Passat will be put into production in China, and actually The new Passat has been produced in China in the first quarter of this year, and its production capacity will gradually increase in the future, but at present we will not disclose specific planning figures to the outside world."

The public also reconfirmed its previous investment plan. During the period from 2016 to 2016, Shanghai Volkswagen and FAW-Volkswagen will invest 14 billion euros (about 122.5 billion yuan at the current exchange rate). This investment is independent of the public's previously announced next year of 62.4 billion yuan. The euro (86.1 billion U.S. dollars) goes beyond investment. At the same time, Volkswagen expects that the total sales of the Chinese auto market will surge by 69% from the current 17 million vehicles (originally) to 29 million in 2018.