Volkswagen Group, partners to invest USD4.4 billion in China in 2020
In China, German automotive group plans to spend more on electromobility over the next few years than on fuel cars
Volkswagen Group (VW), along with its Chinese partners, will invest EUR4 billion (USD4.4 billion) in China next year, the Germany-based automotive group said in a press release on 21 November. About 40% of this investment is earmarked for electromobility as part of the VW group’s electrification strategy. Over the next few years, VW plans to spend more on new energy vehicles (NEV), which included all-electric cars and plug-in hybrid electric cars, in China than on fuel cars.