Jan
Volkswagen going fully native in China
Volkswagen Group China is shifting away from “de-risking” strategies and embracing an “in China for China” approach to strengthen its position in the local electric vehicle (EV) market. The company is prioritizing local procurement to reduce costs and accelerate its multi-year investment plan, aiming to become a leading EV producer in China. The new strategy involves significant investments in research and development (R&D), expansion of manufacturing capacity, and increased collaboration with local partners.
Volkswagen going fully native in China
Volkswagen going fully native in China
As the largest automaker in Germany, Volkswagen Group China has evolved from its origins as the maker of Shanghai taxis to having nearly 100,000 employees and over 40 manufacturing sites in China. The company is deeply integrated into China’s automobile supply chain, covering a wide range of components, from industrial robots to autonomous driving software.
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Despite diverging from the “de-risking” narrative promoted by European Union officials and U.S. politicians, Volkswagen Group China’s strategy aligns with market demands. The company’s extensive relationship-building efforts and dominant position in the world’s largest car market are now at stake. In 2023, Volkswagen Group delivered 3.2 million vehicles in mainland China and Hong Kong, with a notable increase in deliveries of Audi premium brand vehicles and battery electric vehicles (BEVs).
Volkswagen going fully native in China
Volkswagen going fully native in China
While facing stiff competition in China’s dynamic market, Volkswagen Group China aims to maintain momentum by quickly tapping into new market segments, aligning its portfolio with emerging trends, and optimizing cost structures. Emphasizing profitability as a top priority, the company’s Chairman and CEO, Ralf Brandstätter, highlights a strategic focus on investments for the next leap in innovation rather than pursuing growth at any cost.
In the fourth quarter, Volkswagen Group China experienced a significant surge in BEV deliveries, driven by models such as the ID.3, ID.4, and Audi e-tron. The company’s commitment to sustainable growth is evident as it increases its share of China’s internal combustion engine (ICE) market and emphasizes responsible cost optimizations for its fully electric vehicles.
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