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Volkswagen will invest around one billion euros to establish a new R&D center for fully connected electric cars in Hefei, China, named \u2018100%TechCo\u2019. The Group announced the project at the Shanghai Auto Show on Tuesday and set ambitious targets for the unit charged with accelerating innovation locally.The project is to combine vehicle and component development and procurement when launching in 2024. Volkswagen expects this to reduce development times for new products and technologies by around 30%.This content has been archived. Log in or Subscribe to a level that has access to archived content.<\/p>\n","category_list_v2":"Energy<\/a>, Industry<\/a>, Product<\/a>, Technology<\/a>, Top Stories Today<\/a>","author_info_v2":{"name":"Tony Verhelle","url":"https:\/\/newmobility.news\/en\/author\/toverbel\/"},"comments_num_v2":"0 comments","yoast_head":"\nVW Group invests \u20ac1 billion in Chinese R&D Center for EVs - newmobility.news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmobility.news\/en\/2023\/04\/19\/vw-group-invests-e-1-billion-in-chinese-rd-center-for-evs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VW Group invests \u20ac1 billion in Chinese R&D Center for EVs - newmobility.news\" \/>\n<meta property=\"og:description\" content=\"Volkswagen will invest around one billion euros to establish a new R&D center for fully connected electric cars in Hefei, China, named \u2018100%TechCo\u2019. 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