Electric vehicles

Car trouble The lifting of coronavirus lockdowns in China has given the stuttering auto industry a jumpstart, with sales rising for the first time in two years as buyers return as the health crisis eases and restrictions on travel and businesses are lifted. … [Read more...] about Volkswagen to invest over $2bn in Chinese electric vehicle sector

The Nevada highway network is expected to include more than 30 charging sites on corridors also including Interstate 80 across northern Nevada, U.S. highways 95 and 93 running north-south, and U.S. Highway 50 across the center of the state. Distances between gas stations in some areas can be hundreds of miles. … [Read more...] about Nevada marks opening of I-15 electric vehicle charging sites

Volkswagen said it was 'paving the way for more electric models and infrastructure'. (Photo: AFP/Ronny Hartmann) The German car giant said it will take a 50 per cent stake in JAG - the parent company of state-owned JAC Motors - and increase its holding in the JAC Volkswagen joint venture from 50 per cent to 75 per cent for around 1 billion euros. … [Read more...] about Volkswagen invests US$2.2b in Chinese electric vehicle sector

Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China's electric car industry in the biggest foreign investment announced since the country's economy began to reopen following the coronavirus pandemic. Volkswagen AG said Friday it will buy control of its electric vehicle venture with a Chinese partner in a 1 billion euro ($1.1 billion) deal. The German automaker said it would spend another 1 billion euros ($1.1 billion) to become the biggest shareholder in a battery producer. The ruling Communist Party scrapped limits on foreign ownership of electric vehicle makers in 2018 to promote industry development. Beijing sees electric cars as a profitable technology where China can become a global leader. China accounts for about half of global electric car sales but demand has slumped as Beijing wound down multibillion-dollar subsidies and shifted the burden to automakers by imposing sales quotas. Sales of pure-electric and gasoline-electric hybrid models … [Read more...] about Volkswagen spending $2.2 billion to expand in China’s electric car market

Volkswagen Group Letters Of Intent As Competitors Eye Chinese Market The measures come after VW signed letters of intent with Changchun-based automaker FAW Group and the China Intelligent and Connected Vehicles Research Group (ICV) at a 2018 state visit of Chinese Premier Li Keqiang in Berlin. … [Read more...] about Volkswagen Looks East to China, Pledges €2bn to Boost Beijing’s Electric, New Energy Vehicle Market