Volkswagen invests billions of euros in China

Volkswagen invests billions of euros in China

November 26, 2019 0 By autotimesnews

Such generous investments from the German company and its partners are planned for next year. About 40% of the funds will be used to develop electric cars and the infrastructure they need.

The German company Volkswagen with its partners is planning to invest more than 4 billion euros in China next year. It is known that investors are going to invest 40% of the above amount in electric cars – the money will be spent on their development and construction of the corresponding infrastructure. It is reported that in the coming years, the German automaker will bet on electric cars: they will receive larger amounts than cars with traditional internal combustion engines.

In general, by 2025, Volkswagen is going to offer its customers in China at once 30 types of cars using new energy sources. Brand plans are very ambitious. Volkswagen wants to sell one and a half million of such cars on the Chinese market.

 As for the production of electric cars, that already in 2020 it will be established at two new plants FAW-Volkswagen and SAIC Volkswagen. These enterprises are designed for a total production capacity of 600,000 cars per year. In general, according to analysts, from January to November this year, Volkswagen Group China sold about 3.34 million cars in China. Since its appearance in this regional market, the company has managed to sell over 42 million vehicles.