VW to invest $2.7 billion in China to accelerate EV rollout

VW EV — Volkswagen ceded the title of best-selling automotive brand in China to BYD in late 2022 and has announced a series of new models to electrify its portfolio in China as it battles to regain ground. (BLOOMBERG/Bloomberg)

By:

Reuters

April 11, 2024 01:51 PM

BERLIN — Volkswagen announced on Thursday plans to invest 2.5 billion euros ($2.68 billion) in China to expand a production and innovation hub in the city of Hefei in Anhui province.

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