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Volkswagen to invest 10 billion euro in development of electric vehicles in China

The German car maker Volkswagen AG (VW) intends to invest 10 billion euros in the development of new electric vehicles in China until 2025, China chief Jochem Heizmann said. VW will launch production of 40 car models in China.

The output of electric vehicles will begin in the first half of next year, together with the new partner of VW - Anhui Jianghuai Automobile Group.

China's government plans to introduce a complete ban on cars with gasoline and diesel engines by 2040.

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