Volkswagen and its Chinese joint venture partners plan to invest 15 billion euros within 4 years to launch 15 new energy vehicles
On September 29, according to foreign media reports, Volkswagen said on Monday that the company and its Chinese joint venture partners will invest 15 billion euros (approximately 119.4 billion yuan) in the development and manufacturing of new energy vehicles for the Chinese market over the next four years. .
Volkswagen stated that it will make these investments together with its Chinese joint venture partners SAIC, FAW and JAC, which will be used to design and manufacture 15 new energy vehicles for the Chinese market by 2025.
In addition, foreign media previously reported that Volkswagen Autonomy GmbH (VWAT GmbH), a subsidiary of Volkswagen’s autonomous driving, plans to establish a subsidiary in China in 2021. VWAT will focus on L4 and L5 autonomous driving.
Traditional automobile companies such as Volkswagen are increasing the research and development of electric vehicles. According to the plan, Volkswagen will invest 60 billion euros in electric vehicles (EV) and digitalization between 2020 and 2024. Among them, 33 billion euros (approximately 256 billion yuan) were invested in pure electric vehicles; the remaining 27 billion euros were invested in hybrid vehicles and digitalization.
Volkswagen previously stated that it will launch 75 pure electric vehicles before 2029 and sell 26 million pure electric vehicles. The Volkswagen Group has many brands, including Volkswagen, Audi, Porsche, Lamborghini and so on.
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