Volkswagen to boost production capacity

Volkswagen plans to increase its annual production capacity in China to four million vehicles by 2018, a German news magazine quoted the company's new chief for China as saying Sunday. "Up to 2018 we will raise our production capacity in the country to four million vehicles," Focus quoted Jochem Heizmann as saying in its online edition. Until now, the target had been three million by 2014, it indicated. Volkswagen, Europe's leading automotive group, announced on June 2 a shake-up to increase its focus on the Chinese market, unveiling a new group management department for China under Heizmann's leadership. The group delivered some 2.3 million vehicles in the China region in the 2011 fiscal year and reported a pro rata operating profit there of 2.6 billion euros ($3.4 billion), it said at the time.China is VW's biggest market, ahead of Germany.from AFP.