Volkswagen to invest €14 billion in China

Volkswagen plans to invest €14 billion in China over the next four years, its China chief was quoted by the China Daily newspaper as saying, as it speeds up its expansion in the world's largest autos market.

Volkswagen, which produces cars in China in partnership with SAIC Motor Corp and FAW Group, is building four plants in the country, the newspaper said, citing the German automaker's China chief Jochem Heizmann.

Volkswagen sold 2 million cars in China in January-September, up 18.3 per cent and more than double the overall industry growth.