VW Investing $343 Million in African Plant

Posted on : Tuesday, 6th October 2015

 German carmaker Volkswagen plans to spend 4.5 billion rand ($343 million) to upgrade its factory in South Africa and improve its supplier base, it said on Thursday. Most of the money would be used to revamp its factory in Uitenhage in Eastern Cape province to produce new models, Thomas Schaefer, head of Volkswagen's South African unit, said. VW has been pushing for greater scale under Chief Executive Martin Winterkorn's eight-year reign, propelled ...