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Following the lead of General Motors, Honda and Nissan, Volkswagen is looking into creating a sub-brand for the Chinese market, which would sell ultra-affordable compact cars in the world’s biggest auto market.
“A local brand is our opportunity to participate in segments where Volkswagen is not represented yet,” said Volkswagen China’s CEO Wolfgang Neumann, in an interview with German newspaper Handelsblatt. With China playing an integral part of Volkswagen’s ambituous target to be the world’s top automaker by 2018, the supposed 11th brand would add much needed volume to Volkswagen’s sales figures.
Reports suggest that FAW or SAIC, two local automakers that have partnerships with Volkswagen, would be responsible for a major part of the car’s development.
[Source: The Truth About Cars]