www.bloomberg.com
Volkswagen aims to drastically cut EV development costs in China by up to 50%, signaling a more aggressive strategy to compete with domestic leaders like BYD. This cost reduction will be achieved through localization and improved efficiency in their Chinese operations. The move reflects VW’s commitment to gaining ground in the rapidly evolving Chinese EV market, where local manufacturers are outpacing traditional automakers. By streamlining development, VW hopes to offer more competitive EVs at a faster pace, strengthening its position in this crucial market.
