VW goes electric in China

Volkswagen will invest €15bn in electric and autonomous vehicles (AVs) in China by 2022, according to a report by Euractiv.com. Herbert Diess, the German carmaker’s chief executive, claimed at a press conference in Beijing that the money would make mobility cleaner, safer and more intelligent to help improve people's lives.
April 30, 2018 Read time: 1 min
994 Volkswagen will invest €15bn in electric and autonomous vehicles (AVs) in China by 2022, according to a report by %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external Euractiv.com false http://https//www.euractiv.com/section/electric-cars/news/volkswagen-makes-e15bn-bet-on-electric-cars-in-china/ false false%>. Herbert Diess, the German carmaker’s chief executive, claimed at a press conference in Beijing that the money would make mobility cleaner, safer and more intelligent to help improve people's lives.


The funding will come from both Volkswagen and joint venture partners.

Additionally, the company intends to develop battery-powered cars in at least six factories in the country.

Diess also confirmed an agreement with Anhui Jianghuai Automobile to launch a new car brand, SOL, which aims to provide an electric SUV with a 300km range capability on a single charge.

For more information on companies in this article

Related Content

  • Vehicle and Road Automation website launched
    February 18, 2014
    In order to promote the exchange of information and research on vehicle and road automation activities in Europe and beyond, the Vehicle and Road Automation (VRA) project has launched its website, together with other online tools to promote and expand the VRA community: The VRA wiki, www.vra-net.eu/wiki, is a user-edited shared resource for road vehicle automation activities around the world, containing details on around forty projects, with an abstract, contact point, website, sponsor, budget/funding an
    Read More
  • K Group to increase Finland’s electric car charge points by 50%
    June 22, 2018
    K Group intends to boost Finland’s electric car charging infrastructure by 50% by 2019. The solar power producer will install 400 charge points for electric cars and plug-in hybrids at 70 outlets of convenience chain K-Store across the country. The project will support the government's target to increase the number of electric cars in Finland to 250,000 by 2030 and to build 2,000 public charge points by 2020. Around 300 of the charge points will feature 22kW capacity while the remaining 100 will char
    Read More
  • Uber may never be profitable … admits Uber
    April 12, 2019
    Private ride-hailing giant Uber, which is aiming to follow rival Lyft in becoming a public company this year, has warned that it may never be profitable. The candid admission comes in a filing to the US Securities and Exchange Commission (SEC) as Uber prepares for an initial public offering (IPO) which it reportedly hopes will value the company at $100 billion. This potential IPO figure is some way below the $120bn predicted by analysts just last year. And Uber warns: “We have incurred significant loss
    Read More
  • ITS European congress papers deadline extended
    January 8, 2014
    The deadline for paper and special interest session proposal submissions for the ITS European Congress and Exhibition in Helsinki has been extended to midnight on 14 January. We have already received many valuable submissions and we thank you for your contributions. Papers and special interest session proposals should be submitted through the submission portal, which also provides the submission guidelines. For further details on the congress and exhibition, visit the Congress website.
    Read More

Highlighted Content