China going green for cars

Herbert Diess Volkswagen's new CEO speaks at a Volkswagen Group's media event in Beijing

At the show, Toyota Motor Corp. announced that it will introduce 10 new EVs in the country by 2020, including plug-in hybrid EV versions of its Corolla and Levin passenger cars in 2019 and a battery electric auto model in 2020.

Central to Xi's plan is that it will allow foreign automakers to own Chinese factories, instead of working through a 50-50 Chinese partner, as is now required. The Trump administration has accused Beijing of forcing foreign companies to share or reveal their technology as a price of doing business in China, particularly in futuristic areas like electric cars.

The funds for this overall venture will be provided by Volkswagen and with the association with some new local joint ventures.

China has seen an enormous growth in different sectors including automobiles.

The show comes as China's market hits a transition period - the explosive growth in auto sales seen over the last decade slowed last year and data from early this year point to a continued slump for many vehicle types.

The Beijing International Automotive Exhibition is a barometer of the state of the world's biggest passenger-vehicle market.

But established carmakers like Daimler, Volkswagen and Ford said at the auto show on Wednesday that they planned to keep their joint ventures the way they were.

The company intends to produce battery-powered cars in at least six factories in China by 2021. Munoz said the auto is part of efforts to make China a "profit pillar" for Nissan along with Japan and North America. Those include a GM SUV, the Envision, and Volvo Cars sedans made in China for export to the United States.

"Relationships and working together is more important in China than any place I've ever worked", said Trevor Worthington, Ford Motor Co.'s vice president for Asia-Pacific product development. "Hopefully, liberalisation will as well help for fair competition, and having a level playing field", Jochem Heizmann, CEO of Volkswagen Group China, told reporters. It also stated that it will also introduce a new electric vehicle brand with an alliance with a local partner.

Peter Fleet, president of Ford Motor's Asia and Pacific operations, said the company already planned to sell electric cars in China through a joint venture under an cheap local brand that would not carry its famous blue oval logo.

"That's some of the detail we've yet to see", he said.

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