VW aims for 20% share of China's EV market

Volkswagen Group, the most popular carmaker in China, aspires to seize a fifth of the market share in the country's new energy vehicle segment during the coming years. The figure would be similar to its share of the gasoline-powered vehicle market in China.

Stephan Wollenstein, CEO of Volkswagen Group China, said on Tuesday that by 2025, its plants in China will be capable of producing 1.1 million electric Volkswagen and Audi vehicles a year. And the carmaker will also build 17,000 charging pillars in the country by then.

He said that its car plant in Anhui province, which will begin production in 2023, will produce electric vehicles sold in China and overseas markets, including Germany.

Volkswagen expects to sell 1 million electric vehicles across the globe this year, 150,000 of which will be sold in China, Wollenstein said.

His words came after Volkswagen Group unveiled its ambitions plan to become the leader in the age of electric and connected vehicles on the same day.

The group, the world's second largest carmaker by sales, will continue the platform strategy that has proved successful in its era of gasoline vehicles.

"Electrification and digitalization are changing the vehicle faster and more radically than ever before," said Herbert Diess, CEO of Volkswagen Group. "Economies of scale are absolutely critical for both issues."

The automaker is already producing vehicles on its first EV-dedicated MEB platform and selling two locally made MEB vehicles in China, with more such vehicles set to join the lineup soon. By 2022, 27 MEB-based models will be offered throughout the group, he said.

Vehicles on the PPE platform, co-developed by Audi and Porsche, will roll off in 2023, and the SSP platform will be used starting from 2025.

"Our platform roadmap will put us in an even better position to tap the full potential of our group alliance," Diess said. "By pooling the strengths of our strong brands, we will be able to scale up our future technologies even faster and maximize the number of people benefiting from them."