Volkswagen Seeking Battery Partner In China

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Shanghai, November 10, 2008: ( Volkswagen AG is seeking partners to cooperate on battery for auto power supply in China, Volkswagen China vice president Xu Jian said in an interview at the CEIBS 6th Annual China Automotive Industry Forum held in Shanghai on Nov. 6-7, National Business Daily reported.

The financial crisis hits the auto industry but also offers opportunity for auto companies to retool themselves. The European companies are surely to capture the chance to develop new energy as big cars development will suffer the most during financial crisis and erratic oil price, Xu Jian said.

According to Xu Jian, purely electric carí» industry development will go faster than fuel battery cars. Volkswagen now is concerned about the auto parts makers capable of innovation in China, especially those specializing in battery manufacturing. Volkswagen now is seeking cooperational partners on battery for auto power supply in China as it has seen cost advantage and also relatively high prices of electric enterprises in China.

However, Volkswagen still believes 80% automobiles will use internal combustion engine as the powerstrain by 2020. The new energy cars such as electric cars and hybrids will also take 20% market share by then. Whether the new energy can sink into the market depends on government policies and incentives for the promotion of new technology.

Volkswagen said it hasní»t worked out a timetable of introducing small engines now, but they are currently under active consideration, said Xu Jian.

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