Volkswagen has big electric dreams in China

Volkswagen signaled China will be an important market for its electric vehicle sales, amid plans to invest $34 billion in the segment over the next six years.

The German automaker said it is firmly focused on the future, and on selling electric cars to China and the United States, its biggest markets for electric cars.

Scott Keogh, CEO of Volkswagen America, said: "China is an extremely important market for electric vehicles. It's the number one market for electric vehicles and it's the number one market for overall sales. I think if you look at what the Chinese government is doing and proposing, it's looking forward to it with wanting to lead on electrification. It's going to be important."