On Friday, the 8th of November 2019, Chief Executive of the Wolfsburg-based German automotive industry giant, Volkswagen AG, said to the reporters that the carmaker, majority owned by two wealthy Austrian families, Porsche and Piëch, had started off its trial-production with China’s state-owned SAIC Motor Corp Ltd.
at its $2.5 billion e-vehicle factory in Shanghai, remarking a notable development of VW, the only carmaker to post a net operating profit in 2019 amid waning car sales across the world, at its voyage to take on Tesla Inc.’s Gigafactory.
In point of fact, the latest breakthrough of Volkswagen’s e-vehicle production line in the world’s largest automotive market, China, came forth shortly after Tesla Inc.’s Gigafactory became fully functional.
Meanwhile, voicing an out-an-out optimism over its China e-vehicle factory, Volkswagen CEO, Herbert Diess said to the reporters during a tour to the factory on Friday (November 8th), “The move goes in line with Volkswagen’s (electric) e-mobility initiative.
” Apart from that, Diess had also said to the reporters on Friday (November 8th) that the German multinational automaking giant had been well on-course to manufacture a total of 22 million e-vehicles by 2028, while half of them would be developed in China.