Explore stories from Atlantic Canada.
Everything to know about the April 8 eclipse in Atlantic Canada | SaltWire #eclipse #atlanticcanadaBERLIN - Volkswagen wants to avoid setting"utopian" goals for its market share in China, its CEO told German newspaper FAZ on Friday, adding that anything above 10% was"very respectable" given the intense competition.
The carmaker"cannot keep up at the top of the table at the moment" in China's EV space, CEO Oliver Blume told FAZ. He added that new models due for release in coming years would improve the automaker's standing."If we reach a two-digit market share in the long-term in a rapidly growing Chinese market, that is already a very respectable goal," he said, according to the FAZ report.
Volkswagen's overall market share in China dropped to 14% last year from 18% in 2018, as domestic electric-only carmakers won share amid declining combustion-engine sales. Volkswagen's China chief, Ralf Brandstaetter, has previously said VW aims to remain the leading international carmaker in China, though Chief Financial Officer Arno Antlitz warned late last year that it could lose share in the EV market until new models are released.
The German carmaker is pushing to expand its product range in China to attract customers in the entry- and mid-level segment of EVs in particular, with its current offering priced above that of many Chinese electric-only rivals.ADVERTISEMENT
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Volkswagen EVs 'can't keep up' in China, CEO tells newspaperVolkswagen wants to avoid setting 'utopian' goals for its market share in China, its CEO told German newspaper FAZ on Friday, adding that anything above 10% ...
Read more »
Tesla reduces production of EVs at China factory: BBGShares of Tesla (TSLA) are under pressure on Friday, following a Bloomberg report that the electric vehicle manufacturer will be scaling back production at...
Read more »
Xiaomi set for plunge into EVs at a tricky time for China autosExplore stories from Atlantic Canada.
Read more »
Xiaomi set for plunge into EVs at a tricky time for China autosChina's Xiaomi will launch its highly anticipated electric vehicle (EV) on Thursday when it will reveal its pricing and start taking orders, marking the...
Read more »
China’s Younger Steel Industry Slows Net Zero Path, BHP CEO SaysChina’s steel industry is young compared to Europe’s, and its transition to net zero may be slower as it takes a different path to reach government-mandated decarbonization goals, according to BHP Group Ltd.’s Chief Executive Officer Mike Henry.
Read more »
China’s Commerce Minister, SK Hynix CEO Discuss Chip CooperationSouth Korean chipmaker SK Hynix Inc. CEO Kwak Noh-jung met with China’s Commerce Minister Wang Wentao to discuss cooperation, at a time when China is trying to counter US restrictions on its access to technology.
Read more »