Here is another development in the competition to release electric vehicles in China, as Volkswagen AG and SAIC Motor Corp Ltd have begun their “$2.5 billion electric vehicle” trial production in Shanghai based factory, reported Herbert Diess, the C.E.O of VW.
In the words of Herbert Diess:
“The move goes in line with Volkswagen’s (electric) e-mobility initiative”.
However, Tesla has also made a recent announcement to reveal that “it had started trial production at its factory in China” with the aim of making five hundred thousand cars annual once the construction work completes.
There is an aggressive rush amid auto manufacturers and start up alike to reach Chinese market first with their EV product as the “largest new energy vehicle” market of the world saw jump in the sales of NEV by “61.7% to 1.3 million vehicles in 2018”. In fact, as per last month’s Reuters reports, Volkswagen is trying gain an advantage among its peers by preparing “two Chinese EV factories by next year”.
Furthermore, Reuter reported:
“Volkswagen’s ID series EVs will be the first to roll off the Shanghai production line, the German automaker said in a statement. The plant will also produce other models such as from VW’s premium Audi AG (NSUG.DE) brand, the joint-venture partners said”.
According to Diess, Volkswagen aims to manufacture as many as twenty two million electric vehicles by the year of 2028 while 50% of them being made in China. Furthermore, he also added that by 2035, the company expects to have 50% of its annual Chinese sales to be NEVs.
References:
reuters.com
In the words of Herbert Diess:
“The move goes in line with Volkswagen’s (electric) e-mobility initiative”.
However, Tesla has also made a recent announcement to reveal that “it had started trial production at its factory in China” with the aim of making five hundred thousand cars annual once the construction work completes.
There is an aggressive rush amid auto manufacturers and start up alike to reach Chinese market first with their EV product as the “largest new energy vehicle” market of the world saw jump in the sales of NEV by “61.7% to 1.3 million vehicles in 2018”. In fact, as per last month’s Reuters reports, Volkswagen is trying gain an advantage among its peers by preparing “two Chinese EV factories by next year”.
Furthermore, Reuter reported:
“Volkswagen’s ID series EVs will be the first to roll off the Shanghai production line, the German automaker said in a statement. The plant will also produce other models such as from VW’s premium Audi AG (NSUG.DE) brand, the joint-venture partners said”.
According to Diess, Volkswagen aims to manufacture as many as twenty two million electric vehicles by the year of 2028 while 50% of them being made in China. Furthermore, he also added that by 2035, the company expects to have 50% of its annual Chinese sales to be NEVs.
References:
reuters.com