Tuesday, April 27, 2010
Volkswagen: China vital to the success of EVs
The Chinese market has become so important for world automakers that Volkswagen is betting the success or failure of the electric car on how well it is received by consumers in China. It has displayed an electric version of the Volkswagen Lavida in China called the E-Lavida and will also be reportedly showcasing an electric Golf next week in Shanghai. The Chinese government is supportive of EVs – it will start an EV funding initiative in July, and charging stations will be built within the next few years.
“China is the most important market worldwide for the Volkswagen group, and the success of e-mobility in China is decisive for the global execution of the e-mobility strategy,” said Volkswagen CEO Martin Winterkorn in a media statement. Volkswagen intends to start selling EVs in China in four years time. It will be investing over US$5.9 billion in China over the next few years, hoping to ride on the Chinese market boom. Volkswagen already expects that China will overtake Germany as the company’s largest market this year.