After years of relying on German engineers to design cars for China, Volkswagen has begun to hire a team of approximately 3,000 Chinese engineers who will design electric cars at the company’s industrial complex in Hefei, Keith Bradsher and Melissa Eddy of The New York Times says. Volkswagen’s aim is to match the speed and efficiency of Chinese electric car manufacturers in the company’s largest market.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on VWAGY:
- California will mandate zero-emission school buses soon, LA Times says
- UAW initiates organizing drive targeting Tesla, VW, Rivian, WSJ says
- Volkswagen downgraded to Neutral from Overweight at JPMorgan
- VW to cut jobs at ‘no longer competitive’ VW brand, Reuters reports
- Volkswagen price target lowered to EUR 135 from EUR 150 at Barclays
