Volkswagen will invest over 4 billion euros in China by 2020.

[[MC]Ronin[MC]]

Volkswagen will invest over 4 billion euros in China by 2020.

While our hopes for a future brand plant in Europe are still alive, the group has announced a colossal investment to make in the Celestial.

A few days ago, the Volkswagen chief gave an interview stating that his company would not invest in a war-torn country and people would die as a result. Dies was looking at the decisions taken months ago to build a plant in Turkey, again giving hope that we could fight this investment to happen in Bulgaria.

Without any workarounds was the announcement from Volkswagen, which said that the company, together with its partners, plans to invest over 4 billion euros in China in 2020 alone. Of these, 40% will be in the field of electric vehicles, including production, infrastructure construction, research and development.

Volkswagen is expected to invest more in electric vehicles over the next few years, while conventional ICE will remain in the background. The plans envisage the launch of 30 new energy sources in China by 2025, with a target of 1.5 million annual sales in China.

Stefan Wolfenstein, CEO of Volkswagen Group China, says China's success in the field of electric vehicles will be a major driving force behind Volkswagen's sustainable development.

In 2020, the production of electric vehicles will start at two new plants of FAW-Volkswagen and SAIC Volkswagen, whose total annual capacity will be 600,000 units.

For the first 10 months of this year, Volkswagen Group China has delivered 3.34 million vehicles to customers, and since the brand has entered the Chinese market, that number is already 42 million.