Volkswagen to Inject 1 Billion Euros for Research and Development Centre in China
Domestic auto manufacturers are flagging of China’s green energy transition, amounting for nearly majority of the market share in the passenger EV segment.
April 19, 2023. By EI News Network
German car manufacturer Volkswagen would outlay one billion euros (USD 1.1 billion) in a new development centre for electric vehicles in China, as the EV market demonstrate a crucial market in China, Vietnam and India follow strong markets for electric two/three wheelers.
Electric vehicles consist of one out of four car sales in China and numerous of new models from domestic and Western brands were newly released in auto expo.
Domestic auto manufacturers are flagging of China’s green energy transition, amounting for nearly majority of the market share in the passenger EV segment.
Volkswagen is a German car manufacturer was established in 1937 and based in Wolfsburg, Germany. The company generate vehicles in 124 production plants in 20 European countries, and a further 11 nations in the America, Asia, and Africa. Volkswagen Group sells its vehicles in 153 countries across the globe.
By 2050, the entire Volkswagen Group will be a CO2-neutral company, and about 70 new all-electric car models will be launched across the group by 2028.
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