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 |  Apr 27 2009, 7:57 PM

vw-nms-sketch.jpg

In an exclusive interview with Automotive News, Volkswagen North America CEO Stefan Jacoby let slip precious few details about the secret new sedan that is slated for production. But he did admit its existence, even saying that the final design of the vehicle had been agreed upon in just the past few weeks in Wolfsburg.

Whether it will look anything like the sketches that leaked out in February (pictured above), has not been confirmed.

What else we do know is that the vehicle will use VW’s 2.0-liter and 2.5-liter engines and will cost a very-reasonable $20,000.

The vehicle is slated to be produced in VW NA’s new Chattanooga, Tennessee plant with sales beginning in the Spring of 2012.

As for what else will be built at the plant, there is the possibility of a VW version of the upcoming Audi Q3 – although that may no longer be likely after VW announced a “project” had been put on hold in the U.S. after it decided to award the SEAT facility in Spain the contract to build the Q3.

Most likely to be built at the new facility are the two new Polo models that Jacoby has already confirmed are coming. With the current Euro-spec Polo deemed too small for the U.S. market, VW plans to bring a sedan and hatchback version of the Polo, but not until 2011. And where better to build a North American spec vehicle than in North America.