Mexican Media Brands
VW’s China Ventures Plan €15 Billion Investment in Tech
Volkswagen AG says its two joint ventures in China will spend a combined €15 billion ($18.3 billion) over the next five years on advanced technologies.
#hybrid
Share
Volkswagen AG says its two joint ventures in China will spend a combined €15 billion ($18.3 billion) over the next five years on advanced technologies.
The investments are in addition to the €34 billion ($41.6 billion) VW plans to spend in Germany on the same technologies: electrification, connectivity and autonomous driving systems.
“We need to speed up,” declares new CEO Herbert Diess at the Beijing auto show. VW intends to offer hybrid or all-electric versions of all 300 of its vehicle models and become the world’s top electric mobility company by 2025.
RELATED CONTENT
-
Study: Nearly 60% of EV Sales in 2035 Will Be in China
Global demand for electric vehicles will multiply by a factor of 15 to 11.3 million units by 2035, with the Chinese market generating 57% of the total, according to the Fuji-Keizai Group.
-
Tesla Owners in Germany Ordered to Return Subsidy
Germany has ordered about 800 Tesla Model S electric cars owners to pay back a €4,000 ($4,700) government subsidy they received.
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.