Volkswagen to Provide Four Lakh New Energy Cars to China by 2020
China is Volkswagen's largest market.
According to the plea agreement announced in January, VW must make reforms and faces a monitor's oversight. (Image: Reuters)
German auto giant Volkswagen plans to provide over four lakh new energy cars for the Chinese market by 2020 to address its environmental protection needs, a top official said today.
The number will increase to 1.5 million by 2025, Professor Jochem Heizmann, CEO of Volkswagen Group China, was quoted as saying by state-run Xinhua news agency.
The company announced earlier that it would introduce 15 models of new energy vehicles in China in the next three or four years, to address the environmental protection needs of the Chinese market, as well as 10 models worldwide in the next decade.
New energy vehicles sales of the company are expected to reach 2 million to 3 million in 2025, 20 to 25 per cent of its total sales. China is Volkswagen's largest market.
Volkswagen Group China and its two joint ventures delivered 3.98 million automobiles to the Chinese mainland and Hong Kong in 2016, up 12.2 per cent year on year.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- Amy Jackson Blessed with a Baby Boy, Actress Shares Adorable Family Picture
- Sacramento Kings vs Indiana Pacers: The NBA Game That May Bring Donald Trump to India Next Month
- Tom Hiddleston Reveals Chris Hemsworth Punched Him While Filming The Avengers
- Photos Show How Greta Thunberg's Supporters Grew from Two, to Millions In Just a Year
- Investors and Stock Holders are Celebrating Corporate Tax Cut News, With Memes