Report: VW aims for 10,000 EVs sold in China by 2018

Bloomberg. Volkswagen AG plans to sell 10,000 electric vehicle in China by 2018, according to Karl-Thomas Neumann, president of Volkswagen Group China, at the EVS conference in Shenzhen.

The German company will produce an electric model at local ventures with SAIC Motor Corp. and FAW Group Corp. as early as 2013 and is considering a battery-powered model specifically designed for the nation in 2018, said [Neumann].

Volkswagen, the first overseas automaker to enter the Chinese market three decades ago, joins Nissan Motor Co., General Motors Co. and Daimler AG in planning electric vehicles in the country. While local demand for electric cars and hybrids trails other markets, China is offering buyers of plug-in hybrids and pure electric cars subsidies of as much as 60,000 yuan ($9,000) to help cut pollution and reduce oil dependency.

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