Volkswagen Unveils Electric Luxury Sedan
Volkswagen unveiled an electric luxury sedan that promises a 700-kilometer (435-mile) battery range as global and Chinese automakers showed their latest SUVs, sedans and muscle cars Tuesday at the world’s biggest auto show.
Auto Shanghai 2023 reflects the intense competition in China’s fast-growing electric vehicle market after the ruling Communist Party poured billions of dollars into promoting the technology. China accounted for two-thirds of global electrics sales last year.
Brands including General Motors, BMW and Nissan and Chinese rivals BYD Auto and NIO unveiled dozens of new EVs in the cavernous Shanghai exhibition center. Brands touted faster charging, satellite-linked navigation and entertainment, and the future possibility of self-driving technology.
Volkswagen’s ID.7 sedan, the new flagship model for its electric vehicles, was one of 28 models displayed by the German automaker, half of them electrified.
“We are turbo-charging our electric campaign,” said the CEO of VW’s passenger car brand, Thomas Schäfer, who rode onto the stage aboard an electric minibus.
Automakers are looking to China to drive sales growth at a time of slack American and European demand, but that requires them to invest to develop competitive models in a crowded market.
Established global brands face pressure from ambitious Chinese newcomers and to meet government sales quotas for electrics. Many are forming partnerships to split soaring development costs.
China is “playing a leading role in the industry’s electric and digital transformation,” said Ford Motor Co. CEO Jim Farley in a recorded message played on a video screen.
Electrics accounted for just over 1 in 4 of the 23.6 million SUVs, sedans and minivans sold last year in China while sales of traditional gasoline-powered vehicles declined.
