Volkswagen Permitted to Add 2 Car Plants in China

China has allowed German Volkswagen to set up car plants in Tianjin and Qingdao. Furthermore, Volkswagen initiates plans to boost the annual capacity of Chengdu plant to 600 thousand units. The German carmaker will set up a joint venture in China during 2014-2018 to invest a total of 18.2 billion Euros (around USD 24.83 billion) in the new plants and new products, and it will cooperate with SAIC Motor in 2015 to establish a plant in Changsha City of Hunan Province.