Volkswagen plans to export more EVs made in China to emerging markets, leveraging the lower costs and advanced technology acquired from its Chinese partners in a bid to boost global sales.
The new export strategy of Europe’s largest carmaker coincides with a slowdown in car sales in the world’s largest automotive market. That has led to overcapacity and intense price competition and prompted Chinese rivals to dramatically expand their international sales.
“We want to provide the southern hemisphere on the side of China from China because of the cost positioning and the technology profile we could provide for these regions,” VW chief executive Oliver Blume said on Tuesday ahead of the annual auto show in Beijing.
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