Volkswagen has unveiled a new brand called SOL for electric vehicles. The leading automaker will be investing USD 15 billion by 2022 into segments like EVs, autonomous driving, digitization and new mobility services in China. The company’s Chinese partner in this venture would be JAC.
The announcement of the new brand was made by Volkswagen’s head of the China division, Jochem Heizmann at the start of the Beijing Motor Show. The event was also attended by the company’s newly appointed CEO, Herbert Diess.
Volkswagen is seeking to make significant inroads into the market for electrified vehicles in China. If all goes as planned, Volkswagen will unveil ten fully electric vehicles by 2023, will have 40 alternative energy vehicles in the Chinese market by 2025 with sales projected to be 650,000 vehicles. It is also planning ot have a manufacturing footprint comprising six facilities by 2022.
The first model that SOL would produce is a compact SUV, E20X, and it has a range of over 300 km range. This vehicle is essentially a revamped JAC iEV7 model. The joint venture will make a total of three vehicle models in the Chinese market.
VW also has plans to venture into ride-sharing in China with the Chinese ride-share provider Shouqi and is also looking into collaboration with Didi Chuying for mobility, smart city and robot taxi projects.
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
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