Volkswagen To Make More Investments In U.S.

Volkswagen will need to make additional investments in the U.S. to meet its target of doubling its market share in the country, Chief Financial Officer Arno Antlitz said on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Divya Chowdhury and Victoria Waldersee reported for Reuters.

Antilitz was responding to having been asked whether the automaker plans to expand its U.S. plant in Chattanooga, Tennessee. I Photo: Volkswagen Facebook

"We need additional initiatives... to double market share, you have to be even more local," Antlitz said when asked whether the automaker plans to expand its U.S. plant in Chattanooga, Tennessee.

"We are strong in Europe, but we need to do more 'value-added' in the U.S.," Antlitz added, citing research and development as a potential area for investment. "But we have to decide on the project first," he said, declining to provide further details.