Published: Tue, March 20, 2018
Money | By Armando Alvarado

VW to announce $340 million Tennessee investment to build new SUV

VW to announce $340 million Tennessee investment to build new SUV

As you can see in the teaser above, the new SUV concept takes a lot of its design cues from the larger Atlas. Volkswagen will invest $340 million into the facility to build the new model, after investing $900 million to build the Atlas.

Like the seven-seat Atlas, the two-row variant has been designed specifically for the American market.

In addition to the Atlas, Volkswagen's Chattanooga plant manufactures the Passat.

PREVIOUS STORY: An announcement scheduled for Monday afternoon at Volkswagen's Chattanooga plant could outline the German automaker's next move.

VW plans to reveal at the NY auto show next week a five-passenger SUV concept, presaging a model that the automaker will build at its $900 million factory near Chattanooga that's assembling the seven-seat Atlas.

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Azevedo added that the trade environment globally was very risky at the moment and that the WTO was facing challenges from both within and outside.

It comes as demand for the original Passat sedan is declining.

"During my time as governor, I've watched Volkswagen Chattanooga flourish from a single vehicle producer, starting with the Passat, into what it is today-a thriving USA manufacturing operation that can produce three models, and counting", said Governor Bill Haslam. Tennessee Governor Bill Haslam touched on the controversy after the 5-passenger Atlas announcement.

A concept version of the five-passenger SUV will be officially unveiled at the 2018 New York International Auto Show.

"Obviously Volkswagen's had its challenges the last three or four years", he said. The original story can be found here.

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