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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.
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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.
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