VW and SAIC sign cooperation agreement to develop hybrid and electric vehicles

In the dynamic and competitive Chinese electric vehicle market, it is of great importance to continue strengthening our strategic partnership with SAIC in order to drive the electrification of SAIC Volkswagen’s portfolio,” said Brandstätter, quoted by “Xinhua”.

The announcement of the cooperation agreement between SAIC and VW comes at a time when the European Commission has announced that it may increase customs duties on electric vehicles produced in China, and that the Chinese manufacturer’s models for the European market may receive an additional 38.1% tax after the company failed to cooperate with Brussels’ ‘anti-dumping’ investigation.