"Based on the assumption that we'd export 55,000 cars next year, the total contract is worth about 27 billion rand," Bill Stevens, a spokesman at Volkswagen South Africa, said.
The South African-made Polo will be sold in the United Kingdom, Ireland, Australia, Malaysia and Singapore. At this time, Volkswagen builds both Golf and Polo at a factory near Port Elizabeth in South Africa's Eastern Cape province.
On a separate front, Volkswagen announced last weekend its intentions to invest 28.5bn EUR in the next 3 years to support its expansion plans despite of the difficult economic conditions currently in the auto sector.
"The automotive industry is facing significant economic and technical challenges. The Volkswagen Group is vigorously driving forward its long-term growth strategy by investing in environmentally friendly models, innovative technologies and new plants. We are continuing to make focused investments in our future," said Prof. Dr. Martin Winterkorn, Chairman of Volkswagen Aktiengesellschaft’s Board of Management.
"These investments are the basis for secure jobs and the further development of our global facilities. We can only offer the best products tomorrow if we invest today. And this is what the Board of Management and the workforce throughout the Volkswagen Group are focusing on," stressed Bernd Osterloh, Chairman of VW’s Group Works Council.