FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris, France, July 9, 2020. REUTERS/Christian Hartmann
Audio By Carbonatix
Volkswagen AG VOWG_p.DE said on Monday it and three local joint ventures plan to invest around €15 billion ($17.44 billion) in electric mobility in China, the world's biggest car market, between 2020 and 2024.
With the investment by Volkswagen and its three joint ventures with FAW Group [SASACJ.UL], SAIC Motor 600104.SS and JAC 600418.SS, the German automaker will build 15 different battery electric or plug-in hybrid models in China by 2025.
The Wolfsburg-based auto maker will start making electric vehicles based on its MEB architecture at two Chinese factories from October.
It will source EV batteries from CATL 300750.SZ, Guoxuan 002074.SZ and A123.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
NPA pushes back on proposals to scrap Fuel Price Floor Policy
4 minutes -
Stanbic Bank Ghana begins 2026 with thanksgiving service; reaffirms support for Ghana’s economic recovery
53 minutes -
Nigerian imam honoured for saving Christian lives dies aged 90
1 hour -
What a seventh term for 81-year-old leader means for Uganda
1 hour -
AFCON: ‘Shameful’ and ‘terrible look’ – the chaos that marred Senegal’s triumph
2 hours -
Rashford scores but Barca lose to 10-man Sociedad
2 hours -
Diaz will ‘have nightmares’ over ‘Panenka’ failure
2 hours -
Tragic death of Chimamanda Adichie’s young son pushes Nigeria to act on health sector failings
2 hours -
‘I want to show the world what Africa is’: YouTube star brings joy and tears on tour
2 hours -
‘An ambassador for African football’ – Mane is Senegal’s Afcon hero
2 hours -
‘Europe won’t be blackmailed,’ Danish PM says in wake of Trump Greenland threats
4 hours -
Three admit £70m tree planting pension fraud in UK
5 hours -
How crypto criminals stole $700m from people – often using age-old tricks
5 hours -
Construction emissions pose rising climate risk, Scientists Say
5 hours -
At least 21 killed in Spain after crash involving high-speed trains
5 hours