Home  Contact Us
  Follow Us On:
Advertising Advertising Free Newsletter Free E-Newsletter

Volkswagen to invest additional 2.5 billion euros in China
Published on: 2024-04-12
Share to
User Rating: / 0

German carmaking giant Volkswagen Group said Thursday it would invest 2.5 billion euros ($2.7 billion) to expand its operations in China.

Volkswagen held the title of best-selling brand in the world’s largest auto market for years until 2023, when it lost its crown to homegrown electric vehicle maker BYD.

Globally, the group has invested tens of billions in its own pivot to EVs, which in China included taking a minority stake in manufacturer XPeng last year.

The new multi-billion-euro investment will be used to further expand Volkswagen’s production and innovation hub in Hefei, in the eastern province of Anhui, the group said in a news release.




Comments (0)Add Comment

Write comment

security code
Write the displayed characters

    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2024 BusinessTianjin.com. All rights reserved.