DHAKA: Volkswagen plans to increase its annual production capacity in China to four million vehicles by 2018, a German news magazine quoted the company`s new chief for China as saying on Sunday.
`Up to 2018 we will raise our production capacity in the country to four million vehicles`, Focus quoted Jochem Heizmann as saying in its online edition.
Until now, the target had been three million by 2014, it indicated.
Volkswagen, Europe`s leading automotive group, announced on June 2 a shake-up to increase its focus on the Chinese market, unveiling a new group management department for China under Heizmann`s leadership.
The group delivered some 2.3 million vehicles in the China region in the 2011 fiscal year and reported a pro rata operating profit there of 2.6 billion euros (S$4.2 billion), it said at the time.
China is VW`s biggest market, ahead of Germany, reports The Straits Times.
BSDT: 2313 HRS, JUN, 2012
Edited by Robab Rosan, Cultural Affairs Editor
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