Chattanooga 'best fit' for VW, CEO says

KRT) Via Acquire Media NewsEdge) Jul. 16--Chattanooga was "the best fit" for Volkswagen as the German automaker seeks to turbocharge its U.S. sales with the city's largest single manufacturing investment ever, VW of America's CEO said Tuesday. "What we found here was ideal," said CEO Stefan Jacoby, who announced the $1 billion plant during a news conference at the Hunter Museum of American Art. Amid whoops and hollers by a large group of well-wishers and officials, Mr. Jacoby said auto production at the Enterprise South industrial park is to begin in early 2011. VW initially will make 150,000 cars annually, according to the company. VW will produce a mid-size sedan similar to its popular Passat targeted at American consumers "with all the goodies VW has to offer," Mr. Jacoby said. Tennessee beat out Alabama and Michigan for... [read full story]