India, Feb. 21 -- Audi, a subsidiary of Volkswagen (VWAGY), Friday announced that it is set to expand production in North America, prioritizing key models for the U.S. market.
CEO Gernot Doellner stated that a decision on the location will be made this year, with options including a new facility or utilizing an existing Volkswagen Group plant.
The move aligns with industry efforts to localize production due to rising U.S. trade barriers. While Audi has produced vehicles in Mexico since 2023, potential 25 percent tariffs on imports under President Donald Trump's proposals have reinforced the urgency to shift production.
VWAGY closed Thursday's trading at $10.58 up 0.47 percent or $0.05 on the OTC Markets.
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