26 September 2018

Volkswagen to invest record 18.2 bln euros in China, paper says

German carmaker Volkswagen A.G. plans to invest a record 18.2 billion euros (US$24.6 billion) in China through its two Chinese joint ventures over the next five years, Beijing Business Today reported Tuesday. The amount is part of its global investment plan worth 84.2 billion euros for the period and will be raised by the ventures themselves. The company, meanwhile, plans to sell more than 15 models of electric cars in China by 2018, bringing the total number of models in the country to 35, the report said.

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