Volkswagen to make new compact sedan in Mexico
Volkswagen says it will begin manufacturing a new compact sedan at its plant in Mexico, with a launch date of 2010.
By Agencies |
MEXICO CITY: Volkswagen says it will begin manufacturing a new compact sedan at its plant in Mexico, with a launch date of 2010.
Volkswagen's head of Mexico operations, Otto Lindner, says engineers are developing the model.
Lindner made the announcement Monday at the automaker's plant in the city of Puebla. He said Volkswagen will invest $1 billion to increase plant capacity, modernize production lines and develop and produce the new model.
He did not give details about the vehicle. President Felipe Calderon called the announcement ``a reason to be happy for Mexico'' and its auto industry, which has been hit hard by sagging demand from the US amid the economic crisis.
Volkswagen's head of Mexico operations, Otto Lindner, says engineers are developing the model.
Lindner made the announcement Monday at the automaker's plant in the city of Puebla. He said Volkswagen will invest $1 billion to increase plant capacity, modernize production lines and develop and produce the new model.
He did not give details about the vehicle. President Felipe Calderon called the announcement ``a reason to be happy for Mexico'' and its auto industry, which has been hit hard by sagging demand from the US amid the economic crisis.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
