Volkswagen Group China, together with its Chinese partners, plans to invest over EUR4bn next year, with around 40 percent of this investment going towards e-mobility.
This, it says, will accelerate the group’s electrification strategy, which will be strengthened next year through the start of production of models based on the modular electric drive toolkit MEB in Anting (SAIC VOLKSWAGEN) and Foshan (FAW-Volkswagen). Both factories are specifically designed for manufacturing all-electric cars.
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“Today, almost every fifth car sold in China comes from the Volkswagen Group. In a challenging market environment, our strategies are paying off,” said Dr. Stephan Wöllenstein CEO of Volkswagen Group China. “I am looking forward to 2020, when our local e-car production will significantly increase in scale. Success in e-mobility will be a key driver for reaching our sustainability target, becoming net carbon neutral by 2050.”
The funds earmarked for e-mobility will be spent in areas such as production, infrastructure, development or research for electric cars. The investment in 2020 will also target Volkswagen Group China’s other goals, including further optimizing its model portfolio, developing new mobility solutions, as well as making advancements in smart cities and autonomous driving.
By the end of this year, Volkswagen Group China plans to offer 14 electrified models. In 2020, production of all-electric cars on Volkswagen’s modular electric drive toolkit MEB will start in Anting and Foshan. They will start MEB-production in October 2020 with a total capacity of 600,000 units per year. Overall, the VW Group will offer 30 locally produced e-cars by 2025, with a goal of achieving 1.5 million e-car sales by that point.
See also: Volkswagen boosts e-mobility drive in China
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