VW Group make €15 billion available for mobility advancement in China

Volkswagen AG

Volkswagen Group will invest €15 billion in e-mobility, autonomous driving, digitalisation and new mobility services in China through to 2022.

The company, which is aiming to be a leader in future mobility, believes the electrification of cars will increase to improve pollution control, while the rise of artificial intelligence will enhance the level of comfort, complemented by smart traffic concepts to make cities more liveable, with autonomous driving helping to provide easy access to mobility for everyone.

Therefore, Volkswagen Group China is forming partnerships and expanding, with Mobvoi in artificial intelligence and with Shouqi in ride-hailing, car-sharing and last-mile mobility. They are also entering the first phase of a partnership with Didi Chuxing, exploring smart cities, autonomous driving and robo-taxi projects.

Dr. Herbert Diess, Volkswagen Group’s Chairman of the Board of Management and CEO, said: “As the world’s biggest automotive market, China plays a prominent role across all Group brands. The strong bond with our joint ventures and business partners will remain. We are accelerating to make mobility cleaner, safer and more intelligent to really improve people’s lives. We will be starting local production of battery-electric cars in at least six factories by 2021 in China.”

These joint ventures are expected to have an important influence on advancing mobility solutions in China and begin the build of an intelligent, connected and digital transport ecosystem.

Prof. Dr. Jochem Heizmann, Member of the Board of Management of Volkswagen Aktiengesellschaft and President and CEO of Volkswagen Group China, said: “Volkswagen is moved by people and aims to provide the best mobility solutions. As a pioneer of individual mobility in China for more than 30 years, mobility is at the very core of Volkswagen Group China and is behind our commitment to building a smart, sustainable future of individual mobility for its customers in China, together with our partners.”

Volkswagen is scheduled to launch 40 new energy vehicles (NEVs) in China in the next seven to eight years.