BEIJING: German automaker Volkswagen AG's joint venture with China's Anhui Jianghuai Automobile Co plans to invest 5.06 billion yuan in a new electric car factory in eastern Hefei city, according to local authorities.
A spokesperson for the joint venture confirmed plans for the plant, saying the approval represented an"orderly advancement of the project", and the venture's first electric model, the E20X, will be launched this year.The German company, China's largest foreign automaker with sales of 4.21 million cars on the mainland and Hong Kong in 2018, has pledged to ramp up production of zero-emission vehicles as part of its growth strategy in the country.
Reuters reported this month that Volkswagen is in talks with South Korean battery maker SK Innovation to accelerate electric vehicle development.
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