The new company will become the 13th independent brand of the Volkswagen group.
The first two models of a new budget brand in the Volkswagen group will become crossovers. This is with reference to the head of “Volkswagen” Matthias Muller said the publication Autocar.
The release is available cars the German automaker will start in China in 2018. “In China we steam working on the creation of budget cars that will be produced at the joint venture FAW-Volkswagen. We expect that they will be released under an independent brand,” said Muller.
According to preliminary data, at the initial stage lineup will include compact and mid-size SUVs, and after them will appear a hatchback and sedan. All models will be built on the same platform as Volkswagen intends to reduce the cost of development.
It is expected that car prices will start from 8 to 11 thousand euros. Previously it was assumed that in addition to China, the machines will appear in South Africa, India, South America and Eastern Europe, but now Mueller stated that they are intended exclusively for the Chinese market.
The new company will become the 13th independent brand of the Volkswagen group. This contradicts the rumors that the Germans are going to sell a number of brands owned by them, in order to cope with the crisis related to “diesel scandal”.
“I believe that 13 brands demonstrate our strength, not a weakness. At the moment we have not even discussed the possibility of giving up our companies,” explained Mueller.
