Volkswagen AG says it will start building this month a new $240 million auto plant in Shanghai dedicated to export production. Initial capacity will be 150,000 vehicles annually. Completion of the plant is expected within two to three years. VW currently has several car-making joint ventures in China. Company officials did not reveal what models will be built at the new plant. VW’s decision marks the first export base for a Western auto maker in China. The Guangzhou Honda Automotive Co. ...
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