Automakers

VW plans $1B R&D, procurement center for EVs in China

VW ID7 Shanghai show 2023
VW unveiled the ID7 electric sedan, its latest EV, at the Shanghai auto show this week. (REUTERS)
R
By:
Reuters
April 18, 2023 02:12 PM

SHANGHAI -- Volkswagen is investing around 1 billion euros ($1.10 billion) in a new development and procurement center for electric vehicles in Hefei, China, the company said on Tuesday, in a bid to better adapt vehicles to Chinese customers' tastes.

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