Volkswagen Group China to invest over $6 billion in 2020

Volkswagen Group China, together with its Chinese partners, plans to invest over $6 billion next year, with around 40% of this investment going towards e-mobility.

This will accelerate the Group's electrification strategy, which will be strengthened next year through the start of production of models based on the modular electric drive toolkit MEB in Anting and Foshan. Both factories are specifically designed for manufacturing all-electric cars.

The amount spent on e-mobility will be utilised in fields such as production, infrastructure, development or research for electric cars. In the next few years, the company generally foresees spending more on new energy vehicles than on fuel cars. The investment in 2020 will also target Volkswagen Group China's other goals, including further optimising its model portfolio, developing new mobility solutions, as well as making advancements in smart cities and autonomous driving.