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VW to announce $340 million Tennessee investment to build new SUV -source

WASHINGTON, March 19 (Reuters) - Volkswagen AG will announce on Monday that it plans to invest $340 million to build a new sport utility vehicle at its Chattanooga, Tennessee, plant in the United States as demand surges for larger vehicles, according to a person briefed on the announcement.

In 2017, VW Group of America Chief Executive Officer Hinrich Woebcken told reporters at the New York auto show that the automaker planned to build a five-seat SUV in Tennessee, but he declined to say when production would begin. (Reporting by David Shepardson, Editing by Rosalba O'Brien)