According to the US "Automotive News" reported on July 4, the latest news released by the Tianjin Economic Development Zone Administrative Office said that Volkswagen Group will invest 116 million yuan in its Tianjin transmission plant, starting production of electric vehicle motors in December 2018, the largest The annual production capacity can reach 120,000 units.
Volkswagen's move is aimed at accelerating the production of electric vehicles in China in order to meet strict new sales quotas. Last week, Volkswagen and Jianghuai Automobile joint venture Hefei electric vehicle assembly plant started construction. The plant has a total investment of 5.1 billion yuan and an annual output of 100,000 units, which will be completed and put into production by the end of next year.
In addition, SAIC Volkswagen and FAW-Volkswagen will also begin production of electric vehicles in 2019. Volkswagen aims to sell 400,000 electric vehicles in China by 2020, and to sell 1.5 million vehicles by 2025.
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