Should be straight forward. Something like this should do it:
# Get the scalar FunctionSpace corresponding to V
S = FunctionSpace(mesh, V.ufl_element().family(), V.ufl_element().degree())
u0 = interpolate(Expression("x[0]"), S)
# Get Function on W and assign u0 to second component of V
u = Function(W)
assign(u.sub(0).sub(1), u0)