Volkswagen AG (Xetra: VW), a Germany-based automaker, is reported to be adding a budget brand aimed at developing regions.
Reports claim that the automaker is developing a new budget brand to compete with Dacia in emerging markets. The company is also planning to sell its new range of budget-focused vehicles in Europe.
The automaker’s brand will produce its vehicles in India and China. The subsidiary will reportedly launch with three vehicles: a sedan, a wagon and an MPV, priced from EUR6,000.
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