Wolfsburg, 2009-11-20

Volkswagen Supervisory Board lays foundation for car manufacture at Karmann site in Osnabrück

At its meeting today, the Supervisory Board of Volkswagen Aktiengesellschaft approved the acquisition of land, machinery and equipment formerly belonging to the Karmann holding company at the Osnabrück site. Furthermore, during the coming weeks it is also planned to establish a new Volkswagen car manufacturing subsidiary and later start a new vehicle project.

Volkswagen will begin vehicle production in Osnabrück in 2011. According to present plans, this will create over 1,000 jobs by 2014. Ongoing development contracts will continue in effect. Some 200 specialists will already be needed from next year to start production and set up the vehicle project.

Employees and former employees of Karmann have extensive experience in the production of small series models, and this experience will be accessed in line with requirements.

Volkswagen will hold final negotiations with the shareholders of the Karmann holding company and the administrator on the basis of today’s Supervisory Board decision.