Volkswagen to ramp up Chinese electric car production
Volkswagen is ramping up production of electric cars to around 1 million vehicles by the end of 2022. These statistics would enable the German carmaker to leapfrog Tesla Inc and making China the key battleground.
Volkswagen is preparing two Chinese-based factories to build electric cars next year. The Chinese plants will have a production capacity of a 600,000 vehicles, according to the carmaker’s plans. Meanwhile, Tesla is still trying to reach its goal of manufacturing more than 500,000 cars a year with a new factory built in Shanghai, China. This reveals VW’s ability to industrialize faster while relying on an established workforce in two of its plants in Anting and Foshun.
The Wolfsburg, Germany-based carmaker will also plan to retool 8 of its plants across the globe by 2022 to specialize in manufacturing electric cars according to senior VW executives, putting the company on track to becoming the largest maker of zero-emission vehicles.