Volkswagen to Build Intelligent Networked Electric Vehicles R$D Centre in China

On April 18, Volkswagen Group announced that it will invest about EUR 1 billion to establish a research and development, innovation and procurement centre focusing on intelligent networked electric vehicles. The new company will be located in Hefei (the project name is "100%TechCo").

The new company covers vehicle R&D, parts R&D and procurement functions, and the development cycle of new products and technologies will be shortened by about 30%. 100% TechCo will integrate the advanced technology of local suppliers in the early stage of product development, so that the model products can more quickly respond to the needs of Chinese customers, and strengthen the R&D ability of "in China, for China".

The new company is scheduled to be operational in early 2024.

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