Volkswagon pledges to double investment

Volkswagen said it would invest US$6.7bn in China over the next five years to double
current output to I .6m vehicles a year. This is twice the amount it had previously said it
would invest.
The German carmaker and its partner First Automotive Works broke
ground last month on a new plant at their existing ven-ture in Changehun, Jilin province.
The facto-ry will have an annual capacity of 330,000 cars and is expected to start
operations by late 2004 or early 2005.