Volkswagen predicts massive China growth

A Volkswagen car [File photo: qctt.cn]

The world's largest car manufacturer, Volkswagen, has revealed ambitious growth plans for China.

Alongside its leading position globally, the German company is also the largest foreign manufacturer in China.

Over a third of VW's foreign sales currently come from China, and now the firm plans to further cement this position by rapidly transforming its product range.

By 2020, VW aims to sell predominantly electric or hybrid vehicles in China, through partnerships with local firms as well as ride-hailing pioneer Didi.

The move towards producing electric cars is in anticipation of the tightening of Chinese emissions standards, and an anticipated new emissions trading scheme.

Volkswagen has become the world's largest car manufacturer, helped by its impressive sales growth in China.

That performance was all the more impressive given controversy surrounding the firm's emissions scandal last year.

Analysts have revealed that the Chinese market proved to be particularly beneficial to VW in this regard, as the company sells fewer of the affected diesel models in the country, and a larger number of petrol vehicles.

Overall, VW grew by a very impressive 12.2 percent in China in 2016.

China continues to be a booming market for auto-manufacturers, with the latest figures showing that sales have increased at their fastest level for three and a half years.

Overall, manufacturers are selling an astonishing 22 percent more vehicles this year than at the same point last year.