FAW-Volkswagen to build 15 bln yuan base in Sichuan

FAW-Volkswagen (FAW-VW) will invest 15 billion yuan to establish a factory able to produce 600,000 cars per year in Chengdu, Sichuan province, reports Beijing Times, citing FAW-VW.

According to Jiang Yan, the Communist Party Committee General Secretary of FAW-VW, the Chengdu production base will be put into operation in the third quarter of 2011, and its production capacity for the year is expected to reach 450,000 cars.

FAW-VW will begin producing new versions of its Sagitar and Jetta models in September 2011 and the end of 2012, respectively.