Volkswagen to build new transmission plant in China

In its latest move to consolidate its leading position in the world‘s largest car market, Volkswagen has announced plans to build a transmission plant in the Chinese city of Tianjin.

Accordingly, the factory will produce up to 450,000 transmission units annually from 2014, with projected investment of 300 million euros (2.4 billion yuan) and create 1,500 jobs.

Earlier this year, the company said it planned to invest 111 billion yuan on Chinese production and models by 2016. Volkswagen sold 2.6 million vehicles in the Asia-Pacific region last year.

Currently, the German carmaker already runs 11 auto factories in China, with four plants currently being set up.