Volkswagen may consider building a factory in North America if the U.S. dollar remains weak against the euro, according to a report by the German weekly Focus, which cited VW's chief executive Martin Winterkorn.

"If the dollar exchange rate stays at its present level, we will have to begin thinking about a factory in North America," Winterkorn said. Volkswagen, which is based in Wolfsburg, Germany, already has a subsidiary, Volkswagen of America Inc., headquartered in Auburn Hills, Mich. It is also planning to set up a second administrative hub near Detroit, "to get closer to our customers" there, Winterkorn said.