Volkswagen to launch China-specific entry level electric platform

Volkswagen to launch China-specific entry level electric platform

FILE PHOTO: The logo of carmaker Volkswagen Commercial Vehicles is pictured at the IAA Transportation fair, which will open its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. REUTERS/Fabian Bimmer

Volkswagen said on Friday it will develop a new platform for entry-level electric vehicles in China and use more local components to lower costs, as the German company seeks to regain lost ground in the world’s biggest auto market.