Car Culture | July 16, 2008 | 10 comments

Volkswagen to open US plant

source: http://www.spiegel.de/international/business/0,1518,566193,00.html

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unclepete
Twenty years after the closure of its last American plant, Volkswagen is returning to the United States. With its planned factory in Chattanooga, the company is hoping to regain US market share and also buffer itself from euro-dollar currency fluctuations.

German carmaker Volkswagen announced on Tuesday it would invest close to €1 billion ($1.59 billion) to build its first factory in the United States after the closure of its last plant 20 years ago. The company said it expects to open a new plant in Chattanooga, Tennessee by 2011. VW plans to produce 150,000 automobiles annually at the site as part of its effort to increase market share in America, which has eroded in recent years.

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