Volkswagen turns to China for global growth, plans to export 300,000 vehicles a year by 2030
BEIJING, Oct 29 — German car giant Volkswagen said it aims to export at least 300,000 vehicles made in China...
German car manufacturer Volkswagen is looking to China for growth, with plans to export 300,000 vehicles from the country annually by 2030. This ambitious target comes as the European giant grapples with competition from Chinese automakers, weak demand in key markets, and challenges in transitioning to electric vehicles.
Volkswagen Group's China head, Ralf Brandstatter, revealed this plan during a visit to Hefei, a city in eastern China known for its large research and development center. The company aims to export not just vehicles, but also the technologies developed in Hefei, including its electronic architecture and platform, in partnership with Chinese firms Xpeng and Horizon Robotics.
Brandstatter emphasized that these innovations from China could bolster Volkswagen's global competitiveness. To support this strategy, Volkswagen has agreed to cut 50,000 jobs in partnership with unions by 2030, reducing its workforce by around 100,000 in total.
Despite its aggressive plans, Volkswagen's image is marred by a 2015 emissions scandal, where it installed illegal software on millions of diesel cars to evade emissions tests. This incident has cast a shadow over the company's reputation. Recently, rival Mercedes-Benz also announced a profit warning, joining Volkswagen and BMW in citing challenges faced in the Chinese market.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
