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VW Plans €10 Billion “New-Energy” Vehicle Program in China
Volkswagen AG and its partners in China says they will spend more than €10 billion ($12 billion) to introduce 40 locally produced plug-in hybrid and all electric cars and crossovers in the country by 2025.
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Volkswagen AG and its partners in China say they will spend more than €10 billion ($12 billion) to introduce 40 locally produced plug-in hybrid and all-electric cars and crossovers in the country by 2025.
Jochem Heizmann, who heads VW’s China operations, tells reporters that 15 of the models will ride on the company’s MQB platform. The modular front-wheel-drive architecture also underpins such models as the Audi A3 small sedan, SEAT Abiza supermini and VW Golf hatchback.
The first of the electrified vehicles will go into production by next June through VW’s 6-month-old joint venture with state-owned Anhui Jianghuai Automobile Group. The venture was created specifically to develop and market electrified vehicles in China under a new brand.
The new alliance has been approved to build 100,000 all-electric models per year through a project worth 5.1 billion yuan ($769 million).
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