Volkswagen electric ID car is seen during a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, China November 8, 2019.
Chinese new car buyers are younger, tech savvy and like a immersive digital experience from their cars, he added.
China was a very “price-sensitive” market and Volkswagen needed to optimise costs, Brandstaetter said.
Volkswagen in July struck a deal with Chinese EV maker Xpeng Inc (9868.HK) to boost its EV line up.
It has two new models under development as part of that partnership that will target mid-level consumers and be produced on an older generation Xpeng platform.
Persons:
Aly, Ralf Brandstaetter, Brandstaetter, “, Luehrmann, Volkswagen's, Zhang Yan, Brenda Goh, Victoria Waldersee, Kim Coghill
Organizations:
Volkswagen, SAIC Volkswagen, REUTERS, Rights, Volkswagen Group China Technology Company, SAIC, FAW, JAC Motors, Xpeng, HK, Thomson
Locations:
Shanghai, China, Rights HEFEI, BERLIN, Hefei, BYD, Germany