The Strategist

Volkswagen to expand offering in Chinese electric car market



01/17/2023 - 01:57



Volkswagen intends to increase the range of automobiles it offers in China. The vibrant and agile market, according to Ralf Brandstätter, head of the Chinese business, is "a gigantic fitness center for the industry."



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Volkswagen has long held a monopoly over the market for internal combustion engines in China, but it is now trailing rivals in the market for electric vehicles, most notably BYD, which sold 40,046 electric vehicles between January 1 and January 8, as opposed to 1,962 for Volkswagen, according to data from the Chinese brokerage CMBI.

Brandstätter stated during a media roundtable, "We don't want to give up this competition, we want to engage. When asked if the automaker intended to maintain its position as China's top foreign automaker in the age of electric vehicles, he responded, "We want to play a leading role... the cards are being stacked anew."

By partially further localizing research and development in models for the Chinese market, the automaker hopes to reduce the average time to market for new models from four years to two and a half.

Because of the high standards for quality, Brandstätter stated, "We give ourselves more time, yet we could be faster."

In addition to a new lower-class ID.4 vehicle, such as a small sedan or SUV, the business intends to introduce a premium ID.7 model in China, but not the entry-level ID.2 intended for Europe, according to the manager.

source: livemint.com




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