Volkswagen to Contribute to China's Neutral Carbon Target with an Investment of 15 Billion Euros

Volkswagen to Contribute to China's Neutral Carbon Target with an Investment of 15 Billion Euros
Volkswagen to Contribute to China's Neutral Carbon Target with an Investment of 15 Billion Euros

The "green revolution" works of the People's Republic of China created a new market for the world automotive giants in terms of electric vehicle production. Currently, the world's largest automotive manufacturers produce brand new electric vehicle models for the Chinese market and export them to the world. One of these companies is the German Volkswagen (VW). After the Chinese President Xi Jinping's announcement that they will reach the "neutral carbon" target in 2060, VW has decided to increase the billions allocated for electric car production in China.


The company, one of the most valuable companies on the German stock exchange, will invest 28 billion euros in the electric vehicle sector between 2020 and 2024, according to the Beijing spokespersons announced on Monday, September 15. Stating that the holding will realize the transformation rapidly, VW Chairman Herbert Diess also announced that they want to produce 2025 new electric vehicle models in China by 15.

In fact, China will soon be largely equipped with electric vehicles. By 2025, up to 35 percent of total vehicles are expected to be electrically powered models. For VW alone, 15 billion euros for China is added to the 2024 billion euros planned to be mobilized globally as an investment for its electric generation strategy by 33.

At the end of 2019, the company announced that it wants to deliver 2025 million electric vehicles to China by 1,5, together with its Chinese partners. When the production process begins at the Anting and Foshan factories, a total annual capacity of 600 thousand vehicles will already be reached. VW will acquire up to 2025 percent of the battery / battery manufacturer Gotion High-Tech shares, an important step to meet the 150 gigawatt-hour battery requirement in 26.

VW's manager in China, Stephan Wöllenstein, emphasized that his company is also making an effort to contribute to the People's Republic of China's fight against climate change. Emphasizing the goal of carbon neutrality, Wöllerstein, Chinese President Xi Jinping, emphasized the President's goal at the congress in Hainan and stated that they also wanted to contribute to this goal.

Source: China International Radio



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