Reuters: Market News: Audi to build new plant in Mexico -magazine

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Audi to build new plant in Mexico -magazine Apr 6th 2012, 11:18 FRANKFURT, April 6 | Fri Apr 6, 2012 7:18am EDT FRANKFURT, April 6 (Reuters) - German car maker Audi has won the backing from parent Volkswagen to build a new plant in Mexico, German magazine Der Spiegel reported on Friday, citing no sources. The new factory will be designed to build Audi's Q5 sport-utility vehicle from 2015, the magazine said. VW's supervisory board will ratify the plans at its next scheduled meeting on April 18. Audi spokesman Joachim Cordshagen declined to comment. VW originally wanted to expand its U.S.-based factory in Chattanooga, Tennessee, which was only opened a year ago, to make room for production of Audi vehicles.

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