Monday, September 8, 2014

VW to invest 1 bln euros in Thai plant

Via Reuters: Volkswagen plans to invest 1 billion euros ($1.30 billion) to build a new manufacturing plant to produce fuel efficient cars in Thailand, a German magazine said on Saturday.

The Thai government is expected to grant Volkswagen approval for the plant on Tuesday, Wirtschaftswoche magazine reported, without citing sources.

The plant, which will build 1.4 litre petrol engine cars and which could turn out up to 300,000 vehicles per year at full capacity, is due to go on line by 2019, the magazine said, adding that part of the production would be destined for other markets in the region.

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