VW in move to enter low-cost market with China-built car
WOLFSBURG, Germany Jan 25 (Reuters) - Volkswagen may build its first low-cost car in China, a company executive said, as the German group ponders a move into no-frills vehicles to compete with Renault's Dacia and Nissan's Datsun.
More than 3 million so-called budget cars are sold in China every year, making it the biggest market in that segment, and VW would tap growing demand by teaming up with one of its two Chinese joint venture partners if the project is approved, VW brand development chief Ulrich Hackenberg told Reuters.
"That's an issue we're currently looking at," Hackenberg said in an interview at VW's Wolfsburg headquarters. (Reporting by Andreas Cremer)
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