VW decides on budget car concept and design

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BEIJING -- Volkswagen has settled on the concept and design of a low-priced car for emerging markets, said Hans Demant, the VW executive in charge of the project.

VW has tried for more than a year to hit internal cost goals for the car, which likely would sell for between $8,300 and $11,000 and be built in China, the biggest market for low-cost cars.

"The concept and design are now in place," Demant told Reuters at the auto show here. "We will produce all components in China."

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