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Volkswagen to boost its investment in China on e-vehicles

Discussion in 'Business News & Resources' started by Jenilee, Nov 16, 2017.

  1. Jenilee

    Jenilee

    Joined:
    Aug 24, 2010
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    Volkswagen Group has announced that they are planning to spend €10 billion by 2025 to develop and manufacture so-called new-energy vehicles (NEVs).

    The automaker's China chief, Jochem Heizmann said the company is planning to produce 40 new green energy models in China by 2025. He also said that they aim to sell 400,000 e-cars every year by 2020 and 1.5M e-cars by 2025. He pointed the importance of being active in producing and selling e-cars in China at an early stage since he said that, "Nowhere else is the market for e-cars developing as fast as in China."

    vw-1043116_1920.jpg

    China has set a stringent production quota for NEVs that car makers need to meet by 2019. The country is pushing e-mobility to reduce air pollution. This ruling causes a stir on electric car deals and new launches of all-electric and plug-in hybrid models from car manufacturers in China.

    Source: http://www.dw.com/en/vw-announces-massive-e-mobility-investment-in-china/a-41402698
    Last edited: Nov 16, 2017
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