VW Has announced that it they plan to invest over 4 billion Euro In the Chinese Market next year and spend around 40% of that on production, development and research related to electric vehicles. The company also predicts that they will spend more on on new energy vehicles than on fuel cars in the future.
VW currently offers 14 electric models China and announced that they plan on offering 30 locally produced e-cars by 2025. They also plan to start producing their all electric cars in Anting and Foshan next year sometime around October which would be based on their Modular electric drive Toolkit and with a total capacity of 600000 units per year.
Initially, the plants will be used to produce the China specific ID model and in the future other MEB based electric cars will be produced as well. Also both these factories were exclusively designed for producing all-electric cars.
The group currently has 19.5 percent market share in China and according to their CEO every 5th car sold in China comes from the VW group.