Volkswagen plans €2.5Bn investment in China to expand production, research and develop new models.
Volkswagen plans to invest €2.5 billion ($2.7 billion) in China to expand its production and research facilities in Anhui province, aiming to regain its position as China's top-selling car brand. The investment will be used to expand the company's innovation hub in Hefei, and will also fund factories for two new models created in a joint venture with Chinese EV manufacturer Xpeng. The first of these models, a mid-sized SUV, is set to be released in 2026.
April 11, 2024
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