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VW plans to increase the number of charging posts for electric
vehicles in China to 17,000 by 2025, as it planned to invest 15
billion euros ($16.26 billion) in the country on electric
mobility together with its three joint ventures by 2024, Stefan
Mecha, chief executive of the Volkswagen brand in China, told
China's EV 100 forum in Beijing.
"The market is flush with new, highly competitive players but
strong competition simply motivates us to constantly innovate
and improve," Mecha said.
He added that despite softer short term demand in China, the
company is confident that there would be a recovery.
In February, Chinese electrified vehicle maker BYD outsold the
Volkswagen-branded cars to be the best-selling passenger car
brand in the world's largest auto market for the second month in
four.
Mecha also urged China to extend a purchase tax exemption on new
energy vehicles (NEVs), which include both pure electric and
plug-in hybrid cars, beyond this year as part of the policy
support for the sector.
In September, China extended the tax exemption on such vehicles
by a year to the end of 2023.
The government is studying policies to promote auto consumption
and eliminate backward automakers as China's NEV market faces
challenges of weak domestic demand, Xin Guobin, vice minister at
Ministry of Industry and Information Technology, said at the
same forum.
Xin also urged the industry to enhance capabilities in securing
supplies of metals such as lithium, cobalt and nickel as it also
faces threats of global trade protectionism.
($1 = 0.9226 euros)
(Reporting by Zhang Yan, Hongwei Li, Brenda Goh; Editing by
William Mallard and Muralikumar Anantharaman)
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