• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Articles
  • News
  • Events
  • Advertize
  • Jobs
  • Courses
  • Contact
  • (0)
  • LoginRegister
    • Facebook
    • LinkedIn
    • RSS
      Articles
      News
      Events
      Job Posts
    • Twitter
Datafloq

Datafloq

Data and Technology Insights

  • Categories
    • Big Data
    • Blockchain
    • Cloud
    • Internet Of Things
    • Metaverse
    • Robotics
    • Cybersecurity
    • Startups
    • Strategy
    • Technical
  • Big Data
  • Blockchain
  • Cloud
  • Metaverse
  • Internet Of Things
  • Robotics
  • Cybersecurity
  • Startups
  • Strategy
  • Technical

Volkswagen aims to double electric car sales in China this year after missing targets

Reuters / 1 min read.
January 11, 2022
floq.to/len5F

By Norihiko Shirouzu

BEIJING (Reuters) -Volkswagen AG said it would likely double sales of its ID battery electric vehicles in China this year and aims to do even better but the automaker could be hamstrung by a shortage of semiconductors.

The ID series, which Volkswagen produces at its Chinese joint ventures with SAIC Motor and FAW Group, is the backbone of its EV ambitions in China, the world’s largest auto market.

The German automaker sold 70,625 of its ID electric vehicles in China last year, missing its goal of selling 80,000 to 100,000 cars, with production also affected by regional COVID-19 outbreaks in addition to chip-related issues.

Volkswagen’s China chief Stephan Wollenstein told a briefing in Beijing that the automaker would still like to double its original plan but that goal “is not currently secured by the semiconductor supplies that we currently see.”

He added, however that he was “pretty positive that we will see a doubling of actual sales.”

Volkswagen Group, which alongside its own brand owns other marques such as Audi, Lamborghini and Porsche, sold 3.3 million cars in China last year, down 14%, Wollenstein said.

The company aims to boost that number by around 15% or roughly 500,000 units this year, though he said this also depended on the chip supply situation.

The shortage of chips, used in everything from brake sensors to power steering to entertainment systems, has led automakers around the world to cut or suspend production, pushing up both new and used vehicle prices amid robust demand from consumers.

While China’s EV market is seeing very strong growth, most foreign automakers have lagged their Chinese counterparts in designing smart cars that appeal.

The market is now dominated by Chinese brands, led by BYD and Wuling – part of the GM group but a local marque. While Tesla ranks as No.3, it is the only foreign brand among the top 10.

You don’t see Volkswagen. Players like Volkswagen, GM and Toyota have fallen far behind in China’s smart EV race, said Bill Russo, head of consultancy Automobility in Shanghai.

Some 15% of all passenger cars purchased in China last year through November were either battery electric cars or plug-in electric hybrids, according to Russo. In November alone, electric car sales accounted for 21% of China’s overall passenger car sales.

(Reporting by Norihiko Shirouzu; Writing by Brenda Goh; Editing by Edwina Gibbs)

Categories: Uncategorized

About Reuters

Primary Sidebar

E-mail Newsletter

Sign up to receive email updates daily and to hear what's going on with us!

Publish
AN Article
Submit
a press release
List
AN Event
Create
A Job Post

Jobs

  • Software Engineer | South Yorkshire, GB - February 07, 2023
  • Software Engineer with C# .net Investment House | London, GB - February 07, 2023
  • Senior Java Developer | London, GB - February 07, 2023
  • Software Engineer – Growing Digital Media Company | London, GB - February 07, 2023
  • LBG Returners – Senior Data Analyst | Chester Moor, GB - February 07, 2023
More Jobs

Tags

AI Amazon analysis analytics application Artificial Intelligence BI Big Data business China Cloud Companies company crypto customers Data design development digital engineer engineering environment experience future Google+ government Group health information learning machine learning mobile news public research security services share skills social social media software solutions strategy technology

News

  • Canada facing rising threat from cyberattacks – defence minister
  • Majority of EU countries against network fee levy on Big Tech, sources say
  • Twitter’s head of brand safety and ad quality to leave -source
  • US court approves ‘social casino’ $415 million class settlement
  • YouTube to stop removing content making false claims on past elections
More News

Related Online Courses

  • Oracle Cloud Data Management Foundations Workshop
  • Data Science at Scale
  • Statistics with Python
More courses

Footer


Datafloq is the one-stop source for big data, blockchain and artificial intelligence. We offer information, insights and opportunities to drive innovation with emerging technologies.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Recent

  • 5 Reasons Why Modern Data Integration Gives You a Competitive Advantage
  • 5 Most Common Database Structures for Small Businesses
  • 6 Ways to Reduce IT Costs Through Observability
  • How is Big Data Analytics Used in Business? These 5 Use Cases Share Valuable Insights
  • How Realistic Are Self-Driving Cars?

Search

Tags

AI Amazon analysis analytics application Artificial Intelligence BI Big Data business China Cloud Companies company crypto customers Data design development digital engineer engineering environment experience future Google+ government Group health information learning machine learning mobile news public research security services share skills social social media software solutions strategy technology

Copyright © 2023 Datafloq
HTML Sitemap| Privacy| Terms| Cookies

  • Facebook
  • Twitter
  • LinkedIn
  • WhatsApp

In order to optimize the website and to continuously improve Datafloq, we use cookies. For more information click here.

settings

Dear visitor,
Thank you for visiting Datafloq. If you find our content interesting, please subscribe to our weekly newsletter:

Did you know that you can publish job posts for free on Datafloq? You can start immediately and find the best candidates for free! Click here to get started.

Not Now Subscribe

Thanks for visiting Datafloq
If you enjoyed our content on emerging technologies, why not subscribe to our weekly newsletter to receive the latest news straight into your mailbox?

Subscribe

No thanks

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Marketing cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!