Volkswagen said on Tuesday it plans to introduce 10 more EV models by 2026 and remains committed to the Chinese market, where established international brands are losing ground to local rivals.
Chinese automaker BYD outsold the Volkswagen brand in February, becoming the biggest auto seller in China for the second consecutive month.
Volkswagen auto brand CEO Thomas Schafer unveiled the high-end ID.7 model at the Shanghai auto show on Tuesday and said the company plans to launch 10 electric models by 2026.
“We remain committed to China… Our principle is development in China, for China at full speed,” said Schafer.
The executive said the company is investing heavily in its Chinese joint venture in design, manufacturing and R&D, hiring up to 2,000 developers for its innovation center in Anhui province.
Source: Terra
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