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Volkswagen says 50% of China sales will be NEVs by 2035

Volkswagen says 50% of China sales will be NEVs by 2035
FILE PHOTO: A Volkswagen logo is pictured in a production line at the Volkswagen plant in Wolfsburg, Germany March 1, 2019. REUTERS/Fabian Bimmer -
Fabian Bimmer(Reuters)
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BEIJING (Reuters) – By 2035 half of Volkswagen’s sales in China will be new energy vehicles (NEVs), CEO Herbert Diess told a conference in Boao, China, on Tuesday, according to a company statement.

Volkswagen intends to offer 14 electrified models in China this year. By 2028, more than half of the Group’s planned 22 million electric cars will be produced in China, the statement added.

Volkswagen previously said it aimed to sell 400,000 NEVs in China next year and to sell around 1.5 million new energy vehicles in China in 2025.

Volkswagen has joint ventures in China with FAW Group, SAIC Motor <600104.SS> and JAC <600418.SS>.

(Reporting by Yilei Sun and Norihiko Shirouzu in Beijing; editing by Jason Neely)

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