Jan 12, 2022 04:12 AM

VW Bets on Electric Vehicles to Resume Growth in China

(Bloomberg) — Volkswagen AG is betting demand for electric vehicles and easing supply constraints will help it return to growth in China this year after the global chip shortage dented sales in 2021.

Deliveries fell to 3.3 million vehicles last year, down 14% from 2020 when the first wave of coronavirus swept through the country, China Chief Executive Officer Stephan Wollenstein told reporters Tuesday in Beijing. That missed the group’s internal target, he said.

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