Volkswagen Accelerates Electric Vehicle Production By 30%
Photo credit: Volkswagen
Volkswagen Group has made an important step in its electrification strategy by investing over a billion dollars into a new fully-connected electric car development, innovation, and procurement center in Hefei, Porcelain. This investment is part of the company’s strategy to expand its presence in the electric vehicle market and reduce its carbon footprint. The new company, named “100% TechCo”, will focus on research and development of key technologies for vehicle electrification, including batteries, charging systems, and autonomous driving. The company will also engage in advancing key components that will advance its production. The establishment of this company will enable Volkswagen to significantly reduce development times for new products and technologies by around 30 percent.
“The establishment of “100% TechCo” is an important step in our ‘in China, for China’s strategy. By consistently combining development and procurement capabilities as well as integrating local suppliers at an early stage, it will significantly accelerate our pace of development. This will also strengthen the efficiency of the cooperation for our joint venture and increase our profitability,” announced Ralf Brandstätter, a member of the group board for China.
This investment demonstrates Volkswagen’s commitment to the electrification of its vehicle fleet, as well as Volkswagen’s commitment to China as a key market for the adoption of electric vehicles. China is the largest electric vehicle market in the world, and the Chinese government has set ambitious targets to reduce carbon emissions and increase the adoption of electric vehicles in the country. Volkswagen’s investment in the Hefei development center will also enable the company to accelerate the arrival of new electric vehicle models to the market across the world. Shorter development times for new products and technologies will enable Volkswagen to offer a broader range of electric vehicle options to its customers, helping to increase the adoption of electric vehicles worldwide.
Volkswagen’s investment in the Hefei development center will also have a positive impact on the local economy. The investment in research and development of key technologies enables the Hefei region to grow and prosper. Additionally, the new development center will also contribute to the formation of a local supply chain for electric vehicle production, generating more jobs and creating opportunities for local businesses. Volkswagen’s investment in the Hefei development center is an important step in the company’s strategy to expand Volkswagen’s presence in the electric vehicle market and reduce its carbon footprint. The Volkswagen ID.7 debuted recently and extends its battery life beyond the competition. Ready to Join the climate fight with Volkswagen?
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