VW China Seeking 10,000 Electric Car Sales From 2014-18
Volkswagen AG, Europe’s largest carmaker, plans to build and sell 10,000 electric cars in China from 2014 to 2018 as rivals add more fuel-efficient vehicles in the world’s biggest automarket.
The carmaker will produce an electric model at local ventures with Saic Motor Corp. and FAW Group Corp. as early as 2013 and add a battery-powered model specifically designed for the nation in 2018, said Karl-Thomas Neumann, president of Volkswagen Group China, at a conference in Shenzhen, China.
Volkswagen, the first overseas carmaker to enter the Chinese market three decades ago, joins Nissan Motor Co. and Daimler AG in planning electric vehicles in the nation. While local demand for electric cars and hybrids trails other market, China is offering buyers of plug-in hybrids and pure electric cars subsidies of as much as 60,000 yuan ($9,000) to help cut pollution and reduce oil dependency.
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