Volkswagen AG and the Chinese joint ventures with its participation will enclose in production electric cars 15 billion euro

The German automobile building Volkswagen AG declared today that it and three Chinese joint ventures with its participation plan to invest totally in production electric cars in China about 15 billion euro. It is planned to allocate the specified funds during the period from 2020 to 2024. China is the largest automobile market of the world therefore the decision to invest in development local productions is quite explainable. Partners of Volkswagen in the mentioned joint ventures are the Chinese FAW Group COR Group, Shanghai Automotive Industry COR and Investment JAC.<"10>" , in particular, will be directed on expansion of the range...