VW to invest €10 Billion to develop EVs in China

Volkswagen is set to invest in introducing 40 locally-produced low-emission vehicles in China by 2025.

According to Industry Week, the carmaker will invest over 10 billion euros to develop a range of new-energy vehicles in China.

Its China head Jochem Heizmann told reporters in Guangzhou that the European automaker’s venture with Anhui Jianghuai Automobile Group will start production of electric vehicles in the first half of next year, while sales will start in the second half.