The announcement underscores the threat to European and U.S. automakers posed by Chinese electric-vehicle manufacturers.
Volkswagen is shifting more operations to China, tapping the country’s electric vehicle capacity and building factories.
The world’s largest carmaker dominates the sales of hybrid cars but has been slow to sell all-electric vehicles, alienating some customers and hurting sales.
Even as China’s other exports falter, its carmakers are seeing big increases in overseas sales, mainly for gasoline-powered models.
China, an electric-vehicle juggernaut, will have at least seven brands on display, while Germany’s automakers are now a drag on their home economy.
Elon Musk’s electric car company is facing intensifying competition from newer Chinese automakers and established Western car companies.
The intense competition among the country’s huge number of start-up carmakers has unsettled what had been a pillar of the economy in the last few years.
The electric car company’s decision to slash prices appears to have paid off in reviving demand.
BYD is a powerhouse in China and sells the most electric vehicles of any company in the world. Now it has a plan to attract buyers in Europe’s largest economy.
BYD is a powerhouse in China and sells the most electric vehicles of any company in the world. Now it has a plan to attract buyers in Europe’s largest economy.