Volkswagen Eyes China Electric Vehicle Market With Charging Tie-Up

Caixin Global | Jul 12, 2019 at 7:38 PM
  • China’s electric-vehicle charging sector is set to get another jolt as Volkswagen AG has connected with local partners in an effort to tap the rapidly growing domestic market.
  • The German auto giant announced Thursday it has launched a joint venture to offer more charging facilities across the country to help it meet its goal of selling 1.5 million electric vehicles (EVs) annually in China starting in 2025.
  • The venture is 30% owned by Volkswagen Group China, 30% owned by China FAW Group Co. Ltd., 30% by Star Charge, and 10% by Anhui Jianghuai Automobile Group Corp. Ltd., better known as JAC.