Global EditionASIA 中文双语Français
Business
Home / Business / Motoring

Volkswagen Group China to invest over 4b euros in 2020

Xinhua | Updated: 2019-11-26 14:39
A Volkswagen Group China logo is seen in Beijing, Nov 19, 2019. [Photo/VCG]

TIANJIN - Volkswagen Group China and its partners plan to invest over 4 billion euros ($4.4 billion) in China in 2020, with 40 percent of the investment in the electric vehicle field, including manufacturing, infrastructure construction and R&D, the company said.

In the next few years, the automaker is expected to invest more in electric vehicles than petrol vehicles. It aims to deliver 30 types of new energy vehicles in the Chinese market before 2025, with a sales target of 1.5 million vehicles.

Stephan Wollenstein, CEO of Volkswagen Group China, said China's success in electric mobility would be the core driving force to realize automakers' sustainable development goals.

In 2020, pure electric vehicles will be put into production in two new plants of FAW-Volkswagen and SAIC Volkswagen, with a combined annual production capacity of 600,000 vehicles.

Volkswagen Group China delivered a total of 3.34 million vehicles to Chinese customers in the first 10 months of this year, and more than 42 million vehicles in total since entering the Chinese market.

Volkswagen, headquartered in Wolfsburg, Germany, has 12 vehicle brands, with products selling to 153 countries and regions.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US