Volkswagen AG will invest more than 4 billion euros ($4.5 billion) in China this year, as spending plans for new SUVs and plug-in models are spared from cuts the carmaker makes elsewhere in the wake of its emissions scandal.
New models will include a locally produced Audi A6 plug-in hybrid in the second half, Jochem Heizmann, Volkswagen’s China chief, told reporters Tuesday in Beijing. The car is among 15 new-energy vehicles the company plans to introduce within five years in China, where it just fell behind General Motors Co. in annual sales for the first time since 2012.
