Auto
VW's China venture to invest €4bn in electrification and SUVs
Increased electric-car offerings will be a key driver in VW's expansion plan
Volkswagen AG and its Chinese joint-venture partners will invest more than €4 billion next year to rev up electric-car production and add more SUVs to its lineup, defying broader industry woes.
"Of course, we closely watch the up- and down-turns of the new energy vehicle market," VW China chief Stephan Woellenstein said in prepared remarks at the Guangzhou auto show. "Still, its ongoing long-term growth excites us, as our electrification accelerates."
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