Volkswagen has vowed to defend its lead in Europe “by all means”, including a revamped vehicle and software strategy, as German carmakers make a renewed push against Chinese competition in the region’s electric vehicle market.
A year after VW presented plans to drastically cut headcount and capacity at its German plants, its executives at this week’s Munich motor show said the group was ready to fight back against Chinese rivals.
“We are dominant in Europe and will defend it by all means,” VW brand chief executive Thomas Schäfer told the Financial Times, as the group battled sliding market share in China and the rise of BYD and other EV rivals. The new range was “very competitive” and Chinese manufacturers would face bigger challenges breaking into the European market, he added.