Volkswagen to Drive EV Output in China
Published By : 05 Jun 2015 | Published By : QYRESEARCH
Volkswagen, the German automaker has recently inked a deal with the Chinese joint venture partner called SAIC Motor in order to expand their primary Shanghai Volkswagen (SVW) plant based in Antin for production of electric vehicle in China.
This deal was finalized between the China president of the Volkswagen Group and the President of SAIC Motor’s Chen Zhixin. This project is being billed to localize electric vehicles from the Volkswagen Group in the world’s fastest growing economy – China in gradual phases.
Heizmann commented that the agreement lays the foundation for even further expansion of the company commitment to the Chinese society and the ecology. He further stated that they have been at home in the nation China for over 30 years now. And in the next four years, they are planning to localize over 15 various electric vehicle models in this nation. These models include plug-in hybrids and also some fully electric vehicles.
These deals come under a total investment plant that is worth €22 billion in the nation China from Volkswagen in associations with their joint ventures till 2019. Volkswagen with the production of electric vehicles and its related components will be able to boost their initiatives for research and development in the nation and will be extend the sale of fuel cells along with plug in hybrid vehicles.
Till now, FAW Volkswagen along with Shanghai Volkswagen both of them are joint ventures of the Volkswagen Group that has provided around 3.7 million vehicles in the China market in the year 2014 which is a growth of 12.4 per cent as compared to the previous year.