- General
- July 2, 2019
- 4 minutes read
Volkswagen Doubles Down On China’s EV Market
Volkswagen CEO Herbert Diess image: Volkswagen At the first World New Energy Vehicle Congress (WNEVC) held in the Chinese city…
Volkswagen CEO Herbert Diess
image: Volkswagen
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At the first World New Energy Vehicle Congress (WNEVC) held in the Chinese city of Boao, Volkswagen CEO Herbert Diess emphasized on the German automaker’s plans to double down on China’s electric vehicle market. Volkswagen is targeting 50% of its annual sales in China by 2035 being electrified models, and is aiming to produce around 11.6 million electrified cars in China by 2028.
The German automaker is also strengthening its China R&D team, which currently has more than 4,500 engineers working on future automotive tech. Volkswagen intends to offer 14 electrified car models to Chinese customers this year and is also working to improve charging infrastructure in the country with a new joint venture.
An electric car owner charges an electric vehicle at a Volkswagen charging station
image: Volkswagen
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China is the world’s biggest market for electric vehicles so it’s no surprise Volkswagen is boosting its efforts there. Last year, more than 1 million plug-in hybrids and fully battery-powered vehicles were sold in China.
Volkswagen already has significant EV presence in China, where it’s on track to deliver 400,000 electrified vehicles next year. The company is also targeting a production capacity of 600,000 fully electric vehicles in the country per year once a plant [it owns] in the Chinese city of Foshan begins producing MEB [Modular Electrification Toolkit]- based vehicles. For those not familiar with the term MEB, it’s simply a modular car platform [a singular foundation/base] — developed by Volkswagen — that several car models can be built on.