Volkswagen will retain the 5-year development plan in China with a volume of 22 billion euros

Moscow. October 30. Volkswagen intends to maintain unchanged the five-year plan to expand operations in China with a volume of 22 billion euros, despite the planned reduction of investment in connection with the “diesel scandal”, reports Bloomberg.

For the current and following years, Volkswagen expects to renew approximately 70% of the lineup of cars sold in China, as well as releasing on the market more than 30 new models of machines.

The automaker also aims to increase production capacity in China from last year’s level in 3 million cars to at least 5 million cars a year.

“We are committed to the implementation of our investment plan in China”, – said the representative of the Chinese division of Volkswagen Larissa brown.

Partners of the automaker in China, with which it implements investplan, are SAIC Motor and FAW Car.

German concern it is necessary to increase the pace of growth in China to at least partially compensate for the costs associated with “diesel” scandal.

In September it became known that in diesel engines, model EA 189 Volkswagen was installed, which allowed to reduce the recorded amount of pollutants emitted into the atmosphere during the tests. In connection with this, Volkswagen is going to recall about 11 million vehicles. In addition, the company offers the fines of government agencies in many countries and hundreds of trials in the private sector.

Volkswagen has reserved in the third quarter of this year, 6.7 billion euros for expenditures in connection with the scandal, acknowledging that this amount is not final.

According to estimates of various experts, the total losses of the Volkswagen scandal will amount to 20 billion euros to 78 billion euros.

In China, subject to review 1,95 thousand cars Volkswagen with a diesel engine.

The importance of the Chinese market for Volkswagen confirms the fact that the new head of German concern Matthias Mueller has decided to make his first visit as CEO in China. The company intends to introduce in China a new budget car brand in 2018.