Volkswagen, the German automaker, plans to launch 10 more electric vehicle (EV) models by 2026. The announcement came at the Shanghai Auto Show, with CEO of VW Passenger Cars, Thomas Schafer, saying that the company is committed to China, its largest market, where it is seeing its share of the market shrink to local rivals.
VW is aiming to release its long-range EV, the ID.7, to the Chinese market later this year and expand to the US market in 2024. The ID.7 will have an 86kWh battery and be capable of approximately 700 kilometers of range, with a smaller battery option for a 615km range. The EV will also be able to accept up to 170kW of fast charging, with a later ID.7 Pro S version that can accept 200kW. VW is hoping that the ID.7 can challenge the Tesla Model 3 as one of the top-selling EVs in the world.
The automaker saw sales fall by 3.6% to 3.18 million vehicles in 2022, with Chinese EV maker BYD outselling Volkswagen-branded cars in February, becoming the best-selling passenger car brand in China for the second month in four.