Volkswagen looks to export 300,000 vehicles from China by 2030

HEFEI

German car giant Volkswagen said it aims to export at least 300,000 vehicles made in China each year by 2030, as well as technologies it is developing in the country.

Europe's biggest carmaker has been mired in crisis because of Chinese competition, weak demand in key markets and a choppy electric transition, and has launched a huge job-cutting drive.

"Together we plan to export at least 300,000 cars a year by 2030 but our ambition goes beyond exporting vehicles," Volkswagen Group's China head Ralf Brandstatter said on a trip to Hefei in eastern China, where the firm has a big R&D centre.

Volkswagen said that for the first time it will also export technology developed in Hefei to other parts of Asia, the Middle East and South America, but not Europe for now.

This includes the vehicles' electronic architecture, developed with the help of Chinese company Xpeng.

It also includes its platform and driver-assistance system, produced with China's Horizon Robotics.

The German firm hopes these innovations will help it overcome fierce competition and sluggish growth in China and other markets.

"What we develop in China makes Volkswagen more competitive around the world," Brandstatter said.

The carmaker struck a deal in September with unions to cut 50,000 additional jobs by 2030, bringing its total planned workforce reduction to around 100,000.

Rival Mercedes-Benz on Oct. 27 became the third of the big three German carmakers, alongside Volkswagen and BMW, to have issued a profit warning for the year, citing difficulties in China.