Volkswagen to Invest $2.7 Billion in China to Boost EV Production

The German automaker aims to expand its Hefei innovation hub, introducing over 30 new electric vehicle models by 2030.

Volkswagen plans a $2.7 billion investment to enhance its production capabilities and speed up technology deployment in China.
The investment focuses on electric vehicles, with new models and faster technology integration at the Hefei site.
Volkswagen faces intense competition from local brands like BYD, which recently surpassed it as China's top-selling auto brand.
The announcement coincides with increasing trade tensions between China and major economies, including the U.S. and Europe.
Volkswagen's expansion in China includes partnerships with local firms like XPeng and Horizon Robotics, focusing on EVs and tech innovations.