Volkswagen intends to maintain its share of the Chinese market at approximately the same level until the end of the decade, says the head of its Chinese division. The company has ambitious targets for 2030, including increasing market share to around 15%, highlighting the challenges Europe’s largest automaker faces in the world’s largest auto market.
Volkswagen expects the price war to continue in the Chinese market, putting pressure on profits. The company plans to invest in the development of more affordable electric vehicles and increase operating profit in China to more than 2 billion euros by 2027 and around 3 billion euros by 2030.
Volkswagen is also considering various options for its joint venture with SAIC in the Xinjiang region. The company is fighting to remain competitive in China amid an intensifying battle with Chinese electric vehicle makers, including by engaging in a price war and expanding its product range.
