WATCH: Volkswagen said it aims to double its electric car sales in China this year after missing targets
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(600104.SS)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.
Register now for FREE unlimited access to Reuters.comRegisterVolkswagen'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."Read more: Reuters »
Mercedes-AMG GT Track Series revealed as 724bhp circuit special | Evo
The range-topping Mercedes-AMG GT Black Series has been stripped back for track-only thrills, and its flat-plane crank V8 remains… Read more >>
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China Electric Vehicle Sales Growth Is Sparking Big ChangeChina has emerged as a world leader in electric vehicle adoption in recent years. And it turns out 2021 was no exception. According to the Wall Street Journal, 'China’s car market snapped a three-year decline last I hope China doubles the share of its EV sales every year: 2021: 15% 2022: 30% 2023: 60% 2024: 100% They’re going to need to deploy massive public charging stations…
China-backed Blockchain Services Network eyes support for NFTsChina's Blockchain Services Network will provide the tech to implement NFTs into personal user interfaces in exchange for Chinese yuan. 🐉 💹 🧐 ban Crypto, but make NFT
Here's the full list of the best-selling electric cars in China for 2021Tesla and BYD remained market leaders in China's electric car market last year, while new competitors emerged, according to the China Passenger Car Association.
WTI rebounds towards two-month highs above $82 despite looming China risksWTI (NYMEX futures) is inching closer towards two-month highs of $82.47 reached earlier this week, staging an impressive comeback from a drop to just
Taiwan adds minelaying to defenses against China | AP NewsKAOHSIUNG, Taiwan (AP) — Taiwan on Friday commissioned new navy minelayers to add to its defenses against giant rival China. President Tsai Ing-wen presided over a commissioning ceremony for the navy’s First and Second Mining Operations Squadrons, which will operate ships able to automatically sow large numbers of small but powerful mines at high speed without the need for divers.
China Likely to Ban All U.S. Flights for at Least Two WeeksFrom next week, the country will keep incoming flights to a minimum to try to keep COVID out ahead of the Winter Olympics.