VW earmarks €10B for Chinese electric cars
Nov. 16, 2017 5:08 AM ET|By: Yoel Minkoff, SA News Editor
Seeking to comply with upcoming stringent rules, Volkswagen (OTCPK:VLKAY) plans to spend €10B by 2025 to develop and manufacture all-electric and plug-in hybrid cars in China.
The group intends to launch 15 of the so-called new energy vehicle models over the next two to three years, and an additional 25 after 2025, China chief Jochem Heizmann told Reuters.
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