EnergyWatch

VW teams with Chinese partners in USD 12 billion electric-car push

Volkswagen announced a EUR 20 billion plan in September which aims to build electric versions of all models in the group's lineup. The latest step toward this goal is a venture in China.

Photo: /ritzau/Jens Dresling/

Volkswagen AG will invest more than 10 billion euros (USD 12 billion) with its partners to make and develop a range of new-energy vehicles in China as carmakers step up investments in low-emission models in the world's biggest auto market.

Volkswagen will make the investments by 2025 and introduce 40 locally produced vehicles, its China head Jochem Heizmann told reporters in Guangzhou Thursday. The European automaker's venture with Anhui Jianghuai Automobile Group will start production of electric vehicles in the first half of next year, while sales will start in the second half.

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