Volkswagen CEO: Its electric car batteries are purchased from China and its business in China will not be reduced

Recently, Volkswagen CEO expressed his love for the Chinese market in an interview.

Recently, Herbert Diess, CEO of Volkswagen Group, said in an interview with the media that "the group's comprehensive transformation to electrification requires high costs, but these will not affect the profit margins of Volkswagen Group, and Volkswagen Group will not shrink its business in China under any circumstances."

Diess told the media that "Volkswagen Group's profit margin will not be affected by the electrification transformation because Volkswagen Group has its own advantages - all Volkswagen brands' electric models are built on existing very mature production platforms, and the supporting batteries are purchased from China."

It is worth mentioning that Porsche's first electric car Taycan has been sold out, the Audi brand expects to sell nearly 20,000 Audi e-tron electric cars this year, and the Volkswagen brand's newly launched compact electric car ID3 received more than 10,000 orders within 24 hours of opening for pre-orders, and the production date is currently scheduled to be mid-2020.

According to Volkswagen Group's plan, in the next ten years, Volkswagen Group will launch more than 70 electric vehicle products, covering all its brands, and the cumulative sales of electric vehicles will reach 22 million, accounting for half of the total sales.

The increase in sales of electric vehicles will help Volkswagen Group avoid potential billions of euros in fines and achieve future carbon dioxide emissions reduction targets required by the European Union.

The Volkswagen CEO said he was concerned about the trade war between China and the United States, which has led to a decline in Volkswagen's sales in China, even though Volkswagen's market share in China has been growing in the past six months, with a growth rate of 19%.

Diess said, "Volkswagen has no intention of reducing its exposure to the Chinese market, and the Volkswagen Group will not shrink its business in China under any circumstances."