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.

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