How Will Volkswagen (VLKAY) Stock Respond To Approval Of New China Plants?

NEW YORK (TheStreet) -- Volkswagen (VLKAY) received approval from China's National Development and Reform Commission to add two more factories in the country, sources told Reuters.

The new plants are to be set up in the eastern Chinese cities of Tianjin and Qingdao.

The automaker also plans to expand production capacity at its plant in Chengdu in western China to 600,000 vehicles per year, Reuters said.

Must Read: Warren Buffett's 25 Favorite Growth Stocks


VLKAY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Volkswagen Tiguan Named Top Compact SUV Under $35,000

European Stocks Book Early Gains as U.S. Dollar Strengthens Ahead of Fed Meeting

VW, China JV to Recall 4.86 Million Vehicles with Potentially Faulty Airbags

European Stocks Called Lower; Pound Eases Ahead of BoE Rate Meeting

Ferrari Wasn't the Start of the Frankfurt Auto Show With This Cheap Supercar