Despite being the world’s largest vehicle market, China has been notoriously difficult for Western carmakers to penetrate. The electric vehicle (“EV”) revolution has presented an attractive opportunity, allowing carmakers to enter the Chinese market with relatively good results. Volkswagen AG, for instance, partnered with Shanghai, China-based SAIC Motor and FAW Group in Changchun, Jilin, China to build the ID electric vehicle series. The German automaker is looking to double sales in China this year after selling 70,625 of its ID electric cars in 2021.
This was nearly 10,000 EVs short of Volkswagen’s goal to sell 80,000 to 100,000 electric vehicles in the largest vehicle market in the world. Volkswagen failed to meet this goal partly because of regional coronavirus outbreaks, which slowed…
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