HerbertDiess, chairman of the global management board of Volkswagen Group, said on The 28th that up to 2024, Volkswagen Group will invest a total of 33 billion euros in the global electric layout. On top of that, VW will invest 15 billion euros with its joint venture partners, specifically for the Chinese market.

Volkswagen is one of Germany's three largest car companies (Volkswagen, BMW and Daimler). On the same day, Herbert Diess released his video speech for the World Conference on New Energy Vehicles, which opened at the China Sea Port, via his personal social media account. He made the announcement in an address.

Herbert Diess said that with the concept of "overcoming difficulties together, working together across borders, and working together for win-win results", Volkswagen has survived the most difficult phase of coVID-19 together with China. This concept is not only the theme of this year's World Conference on New Energy vehicles, but also the key to victory in the face of climate change, a major challenge for mankind.

"When we consider the cost of production and the impact on the environment, we find that pure electric vehicles are the right choice to achieve decarbonisation." Herbert Diess said the Volkswagen brand "ID." A series of pure electric vehicles will be the key to the group's goal of electric mobility. He also said that electric vehicles are only one part of the realization of decarbonization, Volkswagen should do in the entire product life cycle of the car to achieve carbon neutral.

According to Herbert Deese, Volkswagen group will invest 33 billion euros in the global electric distribution by 2024. "On this basis, together with our joint venture partners, we will invest 15 billion euros, specifically for the Chinese market."

Volkswagen group director and China CEO Feng Sihan said on the same day that Volkswagen appreciates the Chinese leadership's recent announcement that China's carbon dioxide emissions will peak by 2030 and strive to achieve carbon neutrality by 2060, and Volkswagen will support China's efforts to combat climate change.