VW keeps its sights on China

While the US auto industry is trying to regain its footing, VW is planning to invest almost $6 billion in China. Volkswagen is seeking to consolidate its position as industry leader in what could potentially be the world's largest market for autos.

"We expect to achieve double-digit growth in China this year and to secure our market leadership going forward," Volkswagen China chief Winfried Vahland said. He added that he expects the company to meet its goal of doubling annual unit sales to two million before its 2018 target date.

The Wolfsburg-based company's share price on the Frankfurt stock exchange rose 4.35 percent in response to the investment news, closing at 127.83 euros ($186.55).

Deutsche Welle has the full story here.

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