VW's latest tech, continued growth

'Central position'

"China is our largest single market and its importance will only continue. It is in a central position in our 2018 strategy to become the most successful carmaker economically and ecologically in the world," Heizmann said.

On Thursday, Volkswagen launched its all-new Beetle in China as an import. [Photo/China Daily]

The 60-year-old industry veteran is no stranger to the country. He led the design and construction of almost every Volkswagen plant in China as an expert on production.

"I went to China in 1991 for the first time, and have been continuously watching the development of the country since," he said.

Despite a slowdown after explosive increases in 2009 and 2010, the Chinese passenger vehicle market will maintain an upward trend at an annual rate of 7 to 8 percent for the next three to five years, he said, adding that the company aims to keep ahead of average market growth.

In the first eight months this year, the company sold 1.74 million vehicles in China, up 17.9 percent from the same period last year. At the same time, the overall passenger vehicle market edged up by 8 percent, according to statistics of China Association of Automobile Manufacturers.

Betting on a continued boost in demand, Volkswagen is investing aggressively in China, introducing new models and building more capacity with its two joint ventures. The investment will total 14 billion euros ($18.15 billion) from 2012 to 2016, according to a company plan revealed last year.