Volkswagen to expand China-made EV exports to emerging markets [Yahoo! Finance]
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Source: Yahoo! Finance
The move, reported by the Financial Times (FT), comes as China's car market faces softer demand, leaving the industry with excess capacity and sharper price competition while domestic carmakers increase their overseas presence. For Volkswagen, the export plan is part of a broader effort to use spare production capacity in China as profitability in the market comes under pressure. The group plans to introduce 50 plug-in hybrid and electric models in China by the end of the decade, reducing its reliance on petrol vehicles through its “in China for China” strategy. Under that approach, vehicles are being designed and engineered within China. Volkswagen has formed partnerships with Xpeng and SAIC Motor to speed up model development. It has already started shipping vehicles made in China to the Middle East and Vietnam, and is considering a wider presence in South-East Asia, Latin America and Africa, where restrictions on Chinese technology are less stringent. The company confi
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