Volkswagen Group China – together with its Chinese partners – has pledged to invest more than US$4.4bn next year, with around 40% of this investment going toward e-mobility. This will accelerate the Group’s electrification strategy.
Investment in the brand’s comprehensive e-mobility strategy will mainly focus on production, infrastructure, development and research for electric cars, with the company expecting to spend more on new energy vehicles than on fuel cars in 2020.
The company will also look to further optimize its model portfolio, developing new mobility solutions, as well as making advancements in smart cities and autonomous driving.
“Today, almost every fifth car sold in China comes from the Volkswagen Group. In a challenging market environment, our strategies are paying off,” said Dr Stephan Wöllenstein CEO of Volkswagen Group China. “I am looking forward to 2020, when our local e-car production will significantly increase in scale.”
Next year, the company will begin production of models based on the modular electric drive toolkit MEB in Anting, Shanghai, and Foshan, Guangdong. Both factories are specifically designed for manufacturing all-electric cars.