Volkswagen Aims to Sell 1.5 Million Pure Electric Cars in China by 2025
Liao Shumin
DATE:  Sep 14 2017
/ SOURCE:  Yicai
Volkswagen Aims to Sell 1.5 Million Pure Electric Cars in China by 2025 Volkswagen Aims to Sell 1.5 Million Pure Electric Cars in China by 2025

(Yicai Global) Sept. 14 -- German multinational carmaker Volkswagen AG [FRA:VOW] is targeting sales of 1.5 million pure electric vehicles (EVs) in China by 2025, accounting for half of its planned sales of 3 million worldwide, chief executive Matthias Mueller told the Nikkei newspaper.

The shift of focus towards pure EVs by the world's biggest carmaker could affect other automakers' electric car strategies.

Volkswagen sold 10.31 million vehicles worldwide last year, including about 4 million in China, ranking number one both globally and in China. The company plans to electrify 25 percent of its global sales by 2025 and sell 1.5 million EVs in China by then.

Volkswagen's shift towards pure electric cars comes as China strengthens environmental regulations. China is expected to unveil regulations next year that automakers produce and sell a certain percentage of pure EVs. The country has also started to discuss banning sales of new diesel cars after Britain and France calls for ending diesel and petrol car sales starting in 2040.

In June, Volkswagen and Anhui Jianghuai Automobile Group Corp. [SHA:600418] agreed to set up Volkswagen's third joint venture in China. Volkswagen will produce pure EVs in China starting next year and plans to roll out new electric car models with low-cost chassis by 2020. The company will offer over 50 new electric car models globally by 2025.

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Keywords:   Electric Vehicle,Volkswagen AG,Anhui Jianghuai Automobile,Matthias MüLler,Carmaker