German car maker Volkswagen AG (VOW.XE) Wednesday reiterated it plans to invest up to $1 billion in Mexico over the next three years under its Strategy 2018.

MAIN FACTS:

-Some of these funds will be spent on constructing new production plant for the Beetle successor.

-The new version of the style icon will be launched in 2011 and will safeguard a total of 2,000 jobs in Puebla.

-The company still plans to build a new engine plant as part of the growth strategy for North America: "The new plant is to supply our factories in Puebla and Chattanooga with the latest generation of engines from 2013. These engines will set the benchmark in terms of consumption and emissions."

-The choice of location has not been finalized yet, but a decision will be taken soon, with Mexico being one possible option.

-The group's commitment in Mexico is part of its long-term growth strategy for North America.

-It aims to sell one million vehicles per year in the USA by 2018.

 
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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