Notifications Bell

VW is looking to double the EV sales in China

VW is looking to double the EV sales in China

VW is looking to double the EV sales in China

The Chinese market continues to be the focal point of Volkswagen after it sold more than 70,000 electric vehicles last year. The company is likely to double its ID battery for electric vehicles in China in the current year. The series is the backbone of VW’s plans in China.

Volkswagen Group, which includes brands such as Audi, Lamborghini, and Porsche, sold 3.3 million cars in China last year, 14% down from the previous numbers. Depending on the chip supply situation, the company is looking to boost the number by roughly 500,000 units in 2022.

While Volkswagen is looking to increase sales, Rolls-Royce is already ahead due to the high demand for luxury goods. CEO Torsten Müller-Ötvös stated: "In the luxury sector as a whole, the struggle was not so much focused on attempting to find customers, but rather producing enough product to satisfy huge customer demand." In China and the Americas, sales hit records. Goodwood plant is working at close to maximum capacity, and the order books are full well into Q3 2022.

Following the news, Rolls-Royce closed 1.19% higher, while Volkswagen ended 0.07% lower.

Sources: finance.yahoo.com, reuters.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.