In three years, VW will introduce an electric platform for the entry-level market
In 36 months, Volkswagen Group announced on Friday, VW China Technology Company (VCTC), the company’s largest development center outside of Germany, will introduce an electric platform for the entry-level market.
The new platform, which is based on the modular electric drive matrix (MEB) developed by Volkswagen Group, will serve as the foundation for electric vehicles that are specifically designed to meet the needs of Chinese consumers.
Volkswagen Group China’s chairman and CEO, Ralf Brandstaetter, stated, “With the development of a China-specific platform for the entry-level segment, we are taking on significant development tasks for our ‘in China for China’ strategy. We will bring the platform to market maturity in just 36 months. This means that we are reducing the development time by around a third and can quickly tap into new customer groups in the dynamic electric vehicles market in China.”
It is anticipated that VCTC will employ over 3,000 people by the end of 2024, having invested approximately 1 billion euros, or 1.09 billion US dollars. The project is anticipated to be operational by the beginning of 2024.
This new business intends to take advantage of the market’s strength in innovation by incorporating cutting-edge technologies from regional suppliers during the early stages of product development. In the capital of Anhui Province in east China, Hefei, a 450,000-square-meter supplier park is being constructed with this goal in mind.
According to Volkswagen Group, about 1,100 local suppliers offer both hardware and software, making it possible to incorporate cutting-edge technologies and application concepts into new products early on.
The CTO of Volkswagen Group China, Marcus Hafkemeyer, stated, By closely interlinking our development and procurement teams and involving local suppliers and partners in product development at an early stage, we are increasing productivity. We are also using innovative technologies to safely accelerate our development, testing and production processes.”