(Yicai Global) March 22 -- A Shenzhen Deren Electronic Co. unit is set to supply new-energy vehicle components to the China joint venture under the world's largest automaker Volkswagen AG.
The Deren Electronic subsidiary will provide FAW-Volkswagen Automobile Co. with high-voltage wiring harnesses to use in its Modular Electrification Toolkit (MEB), the modular manufacturing platform for electric vehicles that Volkswagen is currently developing, the supplier's parent said in a statement.
Volkswagen plans to use the MEB to produce several vehicles under the Volkswagen and Audi brands, and expects it to become the world's most important pure-electric vehicle platform. It hopes to make 2.6 million vehicles within the project's lifespan, kicking off mass production in 2020, Deren Electronic said.
China's plug-in vehicle market is the largest and also the fastest growing. Last year, sales grew 30 times faster than the worldwide average to reach 605,600 units, giving it a 49-percent share of the global market, data from industry researcher EV Volumes shows.