Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

German auto manufacturer Volkswagen’s Chinese unit will begin production of new energy vehicles (NEV) in the second half of 2023 (H2 2023), according to local media reports citing a statement by the company.

The company has recently started the construction of the electric vehicle (EV) plant in Anhui province. It aims to produce 1.5mn EVs per annum in China by 2025. The construction of the plant is expected to be completed by mid-2022.

The new plant will include several energy-saving strategies as part of comprehensive efforts to reduce overall carbon emissions, including the adoption of low energy consumption production equipment. The company will also set up a batteries and components supplier park at the complex.

The company informed that the plant’s product portfolio will mainly target younger customers.  

The plant will be the company’s third EV plant in the country and will be powered by green energy from day one.

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