Volkswagen ramps up China electric car factories, taking aim at Tesla
Published Mon, Oct 28 20198:39 PM EDT
Key Points
Volkswagen is ramping up production of electric cars to around 1 million vehicles by end of 2022, according to manufacturing plans seen by Reuters.
The German car maker is readying two Chinese factories to build electric cars next year. The Chinese plants will have a production capacity of 600,000 vehicles.
This will enable Volkswagen to leapfrog Tesla and make China the key battleground.