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

WATCH: Volkswagen said it aims to double its electric car sales in China this year after missing targets

Aut, Auto

1/16/2022 5:10:00 AM

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 »

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