Volkswagen to invest additional 2.5 bn euros in China

Shanghai (AFP) April 11, 2024

German carmaking giant Volkswagen Group said Thursday it would invest 2.5 billion euros ($2.7 billion) to expand its operations in China as it tries to prevent a sales slide in its most important market. Volkswagen held the title of best-selling brand in the world's largest auto market for years until 2023, when it lost its crown to homegrown electric vehicle maker BYD. Globally, the gro