Volkwagen in China’s NEV Market: Challenges & ChangesHow does VW perform in China’s New Energy Vehicle (NEV) market? In 2021, Volkswagen’s new energy vehicle “ID series” did not meet the Board’s expectations. It reached an annual sales volume of roughly 70,000 cars, lower than the target 80,000. The pioneer in this industry, Tesla, performed far better – reaching a significant volume of 936,000 shipped units. Besides that, the competition did not just come from Tesla. Local new energy automakers such as BYD, NIO, and Xpeng all delivered outstanding sales outcomes of 594,000, 91,000 and 98,000 units respectively. Together these players …
Hefei – A Rising E-Mobility Hub
Hefei – A Rising E-Mobility HubHefei, the capital of Anhui Province and home to 8 million people, is slowly rising to become one of China’s leading e-mobility and battery technology hubs, thus supporting the government’s direction of gaining a leading position in the global EV market. The city, which is located within 450 km of Shanghai (~5 hours drive, 2 hours by HSR), sees a growing number of companies setting up their business due to favorable policy support and funding by the local government with the aim of reaching an output of 1 million NEVs in 2025.Which companies are driving …