The funding will come from both Volkswagen and joint venture partners.
Additionally, the company intends to develop battery-powered cars in at least six factories in the country.
Diess also confirmed an agreement with Anhui Jianghuai Automobile to launch a new car brand, SOL, which aims to provide an electric SUV with a 300km range capability on a single charge.
VW goes electric in China
Volkswagen will invest €15bn in electric and autonomous vehicles (AVs) in China by 2022, according to a report by Euractiv.com. Herbert Diess, the German carmaker’s chief executive, claimed at a press conference in Beijing that the money would make mobility cleaner, safer and more intelligent to help improve people's lives.
April 30, 2018
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