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Volkswagen says modular vehicle production to soar by 2016

FRANKFURT (Reuters) - Volkswagen (GER:VOW3) expects production of vehicles based on its new modular assembly architecture to soar in the next few years, its chief financial officer told financial newspaper Boersen-Zeitung.

The MQB platform that Volkswagen has been developing since 2007 allows the firm to share more components between different models and engines.

It is being implemented over the next four years at a cost Morgan Stanley estimates at nearly $70 billion.

"This year we're likely to be below the 1 million mark regarding vehicles based on the MQB," CFO Hans Dieter Poetsch was quoted as saying in an interview published on Saturday.

"The number ... should double to nearly 2 million vehicles in 2014. For 2016, we are expecting about 4 million vehicles."

Poetsch also said that weak car demand had prompted VW to reduce and postpone some investments not directly related to products.

(Reporting by Christoph Steitz; Editing by John Stonestreet)