An increase of 119.2 billion yuan! Volkswagen invests heavily in electric vehicles in China

In the domestic new energy market, Tesla and a number of domestic car companies are squeezed. Although the current market size of new energy vehicles is not too large compared to fuel vehicles, Tesla has already achieved its goal of selling tens of thousands of dollars a month. In contrast, Volkswagen, Toyota, Honda and other fuel car giants, new pure electric vehicles may also be on PPT.
The ability to seize the opportunity in the full transformation of electrification will greatly determine the future development opportunities of these car companies. To this end, Volkswagen has also launched a new round of actions in China.
On September 28, Volkswagen Group (China) announced that it will join hands with joint venture partners SAIC-Volkswagen, FAW-Volkswagen and JAC Volkswagen to jointly invest approximately 15 billion euros (approximately RMB 119.2 billion) from 2020 to 2024. , To accelerate the layout of China’s electric mobility field.
Such large expenditures also reflect Volkswagen’s urgent and urgent situation for the transformation of new energy vehicles in the domestic market.
After all, in the current domestic new energy vehicle market, among the pure electric models, Volkswagen has not yet come up with a brand new model.
In terms of product strength, the previous “oil-to-electricity” models are not a little bit different from Tesla, Weilai, Xiaopeng, and even domestic electric vehicles.
At the same time, the current market policy is increasingly leaning toward new energy vehicles. If Volkswagen does not adapt to the reform and make arrangements in advance, I am afraid that it will not even be able to drink soup later.
Prior to this, the Volkswagen Group had announced an investment of 33 billion euros in the field of global electric mobility during the same period. The importance of the Chinese market to the Volkswagen Group is obvious. The amount of investment in the field of new energy vehicles is close to half of the Volkswagen global market.
With the advancement of the Group’s electrification and digitalization strategy, Volkswagen will realize large-scale electrification in the Chinese automobile market, and realize the localized production of 15 new energy models by 2025, and the proportion of electric vehicles in the group’s product portfolio Increase to 35%.