A Yanfeng interior is pictured in this company image.Yanfeng Automotive Interiors officially unveiled plans today to invest $55 million into a Chattanooga facility to supply parts for Volkswagen's assembly plant and hire 325 people.
"As the world's largest automotive interiors supplier, Yanfeng can locate anywhere in the world, and its decision to expand its global presence in Tennessee is another example of our state's competitiveness in the global marketplace," Gov. Bill Haslam said in a statement.
Yanfeng has leased a site off Bonnyshire Drive near the VW plant for its operations, the Times Free Press reported last week.
"We are pleased to establish a facility in Chattanooga to support Volkswagen," David Wang, Yanfeng Automotive Interiors vice president and deputy general manager of North America said. "We appreciate the partnership with our customer, as well as local and state officials, who are working closely with us to launch this new manufacturing location."
Yanfeng Automotive Interiors will supply interior components including floor consoles, instrument panels and trunk trim for future Volkswagen models. Production is slated to begin in late 2016.
See more in Wednesday's Times Free Press.