Volkswagen to spend $343 million on South African factory revampStaff writer ▼ | August 29, 2015
Volkswagen plans to spend $343 million to upgrade its factory in South Africa and improve its supplier base.
Auto industry VW is the second-biggest auto maker by sales in South Africa
VW has been pushing for greater scale under chief executive officer Martin Winterkorn's eight-year reign, propelled by adding brands and factories and roaring sales in China.
VW is the second-biggest auto maker by sales in South Africa after Toyota. Its vehicles are sold domestically as well as exported to the rest of Africa.
Other manufacturers in the country include Ford Motor Co., BMW and General Motors. ■