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Volkswagen AG’s supervisory board has approved a plan to build a plant in Chattanooga, Tennessee, investing 620 million Euro (around 1 billion USD). The plant is likely to commence production in early 2011.
CEO of Volkswagen AG, Prof Martin Winterkorn, described this as an important step in the implementation of its volume strategy and hinted that Volkswagen will be very active in capturing the US market.

Initial construction will install a production capacity of 150,000 automobiles per annum. The plant will consist of body-production shop, paint shop and assembly shop. It will have maximum flexibility using modular production system. Volkswagen will employ workforce of 2,000 and create additional jobs at suppliers’ end and logistics centers. The first vehicle that the plant will manufacture will be a new midsized sedan, tailor-made to US market requirements.

According to Prof Winterkorn, the plant is a mile stone in company’s growth strategy. This will plant will gear up for sale of 800,000 vehicles per annum by 2018 and will help alleviate exchange rate fluctuations permanently, which is a prerequisite for economic success in the dollar region.

Volkswagen board selected Chattanooga out of 25 sites, notably due to its proximity to network of component suppliers, availability of qualified workforce and developed property and good transport facilities.  Prof Winterkorn is looking forward to establish Volkswagen as the biggest European carmaker in the US.

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Tags: Volkswagen //