Tennessee’s red-hot financial sector, which has added more than 24,000 jobs in this decade, continues to attract foreign direct investment from global asset management leaders.
Volkswagen will invest approximately $340 million to bring the vehicle to market, in addition to approximately $900 million already invested to expand the Chattanooga plant for Atlas production.
The industry giant is gearing up to meet the demand as the amount of aluminum in cars is expected to increase fourfold by 2015, tenfold by 2025.
Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty at announcement; global demand drives investment and job creation.