Volkswagen has confirmed plans of opening up at least ten factories in the next several years.

Volkswagen has confirmed plans of opening up at least ten factories in the next several years.

The announcement was made yesterday by Volkswagen Chief Executive Martin Winterkorn who added seven of those plants will be in China. They already have twelve factories in China where Volkswagen is currently the top player, and the next one will be built in the southwestern region.

They also have plans for the United States where they want to build a new full-size SUV, which will essentially be a production version of the CrossBlue Concept. They will either increase output at the Chattanooga plant or build another one on U.S. territory, according to the firm's production chief Michael Macht.

What's interesting is VW's sales chief Christian Klinger said the company could be launching up to five new models developed specifically for the U.S. market. In addition, Winterkorn said VW will invest 33 billion euros in Europe over the next three years.

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