Volkswagen’s investment plans for the next five years tell one story very clearly – the company is becoming ever more dependent on growth in China in its bid to overtake Toyota as the world’s number one carmaker.
For the first time in years, the planned increase in investment by VW’s two Chinese joint ventures – internally financed through their own cash flows – is set to accelerate, even as Volkswagen becomes dangerously exposed to a slowdown in China.
Volkswagen has confirmed plans to build an estate version of the Golf R. The 155mph load lugger will be powered by a 2.0-litre turbocharged petrol engine and be capable of rocketing from 0-62mph in 5.1 seconds. Prices are expected to start at £33,000 when the Golf R Estate reaches UK showrooms in July 2015.
Volkswagen’s growth in China is expected to slow to about 10 percent this year from 16 percent in 2013 due to a conservative strategy that has limited its production capacity, VW China chief Jochem Heizmann said.
by Samuel Shen and Kazunori Takada
Volkswagen AG said on Tuesday it would launch more than 20 models of battery-driven cars in China over the next few years.
Volkswagen Group will deepen research-and-development projects with its Chinese joint venture partner China FAW Car Corp. (FAW car above sold in Russia) including work on hybrid and electric cars, according to five people familiar with the matter.
