Volkswagen To Invest $2.7 Billion In China, Add EV Models

Volkswagen said on Thursday it plans to invest $2.7 billion, or 2.5 billion euros, to boost sales in China, the world’s largest auto market, and improve the German automaker’s ability to respond faster to a swirl of local competition. Volkswagen, whose brands also include Audi, Porsche, ŠKODA, Bentley and Lamborghini, will expand a production and innovation hub in the eastern Chinese city of Hefei with a focus on electric vehicles that are among the country’s top sellers. “Our new production and development hub in Hefei will bring technologies to market...