Volkswagen plans to build a new five-passenger SUV in Chattanooga.
According to a person briefed on details, the company will invest $340 million to bring the vehicle to market. The person revealed this information on condition of anonymity to avoid pre-empting an official announcement Monday in Chattanooga, where Tennessee Gov. Bill Haslam and Hinrich J. Woebcken, president and chief executive of Volkswagen Group of America Inc. are expected to attend.
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The German carmaker describes the vehicle as a variant of the seven-passenger Atlas, designed and engineered for the American market. The Chattanooga plant also manufactures the Passat and the Atlas.