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Volkswagen Group earmarks $12 billion to develop electric cars in China

Volkswagon plans to introduce 40 locally produced electric vehicles in China by 2025

Bloomberg 

Volkswagen group will invest more than 10 billion euros ($12 billion) with its partners to make and develop a range of new-energy vehicles in China as carmakers step up investments in low-emission models in the world’s biggest auto market.   Volkswagen (VW) will make the investments by 2025 and introduce 40 locally produced vehicles, its China head Jochem Heizmann told reporters in Guangzhou Thursday. The European automaker’s venture with Anhui Jianghuai Automobile Group will start production of electric vehicles in the first half of next year, while sales will ...

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First Published: Thu, November 16 2017. 10:51 IST