Volkswagen aiming NEVs to comprise half of China sales by 2035

Volkswagen aiming NEVs to comprise half of China sales by 2035

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Volkswagen CEO Herbert Diess said that by 2035 about half of the company’s total sales in China will be comprise of new energy vehicles (NEVs). He was talking to a conference in Boao, China on Tuesday, according to a company statement.

Volkswagen is in this year plans of launching 14 models of electric vehicles in China and planning to deliver 22 million electric cars globally by 2028 with intentions to produce more than half of those planned vehicle in China, the statement added.

Stepping towards its efforts to achieve that goal of making more than 50% of its cars in China, Volkswagen Group China has started manufacturing two major components, that are to be used in NEVs, at its plant in northern Chinese city of Tianjin when the company in late last month announced that the Volkswagen Automatic Transmission Tianjin Co. Ltd start producing APP290 E-drive and DQ400e hybrid transmission, the two key components of NEVs.

To the local manufacturing of NEV components in China, CEO of Volkswagen Group China Stephan Wollenstein in his statement called it key milestone achieved by the company for the Group’s e-mobility strategy.

China being largest electric vehicle market in the world is a key factor in advancement of company’s global strategy for electric vehicles, said Frank Engel, executive vice president of Volkswagen Group China.

Volkswagen is also planning selling 400,000 NEVs in China next year and aiming gradually increasing that figure to 1.5 million by 2025 with Tianjin facility playing an important role in that achieving that goal with its manufacturing ability, he added.

China’s statistics shows that in first five month of this year, the production and sales of NEVs in the country on year-on-year basis increased by 46% and 41.5% to reach 480,000 and 464,000 respectively.

In China, Volkswagen works with SAIC Motor, JAC and FAW Group in joint ventures.

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