VW takes position in China's e-mobility
Volkswagen is striving for the lead in transforming the auto industry towards electric mobility in China. This was endorsed by the CEO of Volkswagen AG, Herbert Diess, at the first World New Energy Vehicle Congress (WNEVC) in the southern Chinese city of Boao.
The Boao Consensus, which describes the strategic results of the congress, foresees e-cars accounting for 50% of annual global car sales by 2035. Within the Chinese market, Volkswagen commits to that goal as well, making China pivotal for Volkswagen Group's decarbonization strategy. Volkswagen intends to offer 14 electrified models to Chinese customers this year. By 2028, more than half of the Group's planned 22 million electric cars will be produced in China. At the same time, Volkswagen is strengthening its local R&D. More than 4,500 engineers work on future technologies in the country.
E-mobility is already booming in China. Last year, more than one million plug-in hybrids and purely battery-powered vehicles were sold. This makes China the world's largest market for e-cars. The government is supporting e-mobility through comprehensive initiatives such as the expansion of the charging infrastructure and low electricity costs. In addition, more renewable energy is being harnessed to generate electricity.
As part of its e-mobility offensive, the Volkswagen Group plans to produce around 11.6 million e- cars in China by 2028: that is more than half of the Group's global total target of 22 million.