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
-
More patrons troop in as 3rd Republic Bank-JoyNews Habitat Fair clinic enters final day stretch
5 minutes -
German, Russian foreign ministers hold rare talks amid rising tensions
7 minutes -
Gov’t to develop policy for Ghanaian Sign Language in education
36 minutes -
Accra Academy defend ODADEƐ ’90 5-a-side title
45 minutes -
Ghana risks EU gas market access over methane emissions – Expert warns
1 hour -
Salt Pond’s $200m warning: Why Ghana cannot afford to exclude Fisheries Commission from future decommissioning
1 hour -
Venezuela frees 39 political prisoners after post-Maduro talks
2 hours -
EU unlocks humanitarian aid for crises worldwide
2 hours -
Tenth woman’s body found as South Africa police probe killings
2 hours -
Black woman found hanging from tree was dead before body was ‘staged’, police say
2 hours -
Final day: 3rd Republic Bank-JoyNews Habitat Fair clinic underway at Junction Mall, Nungua
2 hours -
Nor’easter brings flooding as New York and New Jersey declare emergency
2 hours -
Africa’s richest man helps fund $660m fuel pipeline between Ethiopia and Djibouti
3 hours -
Security lapses at Utah campus where Charlie Kirk was killed, review says
3 hours -
White House bars CNN from travelling with Trump on Air Force One
3 hours