Volkswagen to invest €1 billion in China EV centre
Volkswagen is set to invest €1 billion in a new state-of-the-art development, innovation and procurement centre for electric vehicles in the southern Chinese city of Hefei. – AFP pic, April 18, 2023.
GERMAN carmaker Volkswagen said today it would invest €1 billion in a new development centre for electric vehicles in China, as the EV market proved a key battlefield for brands at the Shanghai Auto Show. “The company is investing around €1 billion in a new state-of-the-art development, innovation and procurement centre for fully connected intelligent electric vehicles in the southern Chinese city of Hefei,” the group said in a news release.
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