{"text":[[{"start":11.9,"text":"Volkswagen plans to export more EVs made in China to emerging markets, leveraging the lower costs and advanced technology acquired from its Chinese partners in a bid to boost global sales."}],[{"start":23.15,"text":"The new export strategy of Europe’s largest carmaker coincides with a slowdown in car sales in the world’s largest automotive market. That has led to overcapacity and intense price competition and prompted Chinese rivals to dramatically expand their international sales. "}],[{"start":39.8,"text":"“We want to provide the southern hemisphere on the side of China from China because of the cost positioning and the technology profile we could provide for these regions,” VW chief executive Oliver Blume said on Tuesday ahead of the annual auto show in Beijing."}],[{"start":56.199999999999996,"text":"The German group plans to launch 50 plug-in hybrid and EV models in China by the end of the decade to rejig its petrol-heavy line-up with vehicles designed and engineered locally as part of its “in China for China” strategy. "}],[{"start":69.3,"text":"VW has also partnered with China’s Xpeng and Chinese state-owned SAIC to develop vehicles more quickly."}],[{"start":77.95,"text":"Blume said the fully localised strategy made the company “faster, more competitive and, of course, more resilient even beyond China”."}],[{"start":86.7,"text":"VW already started to export its China-made vehicles to the Middle East and Vietnam last year. It is also looking to bring more models into other markets in south-east Asia, Latin America and Africa that do not face regulatory hurdles for Chinese technology. "}],[{"start":102.35000000000001,"text":"Blume said there were no plans to export these models to Europe or the US. "}],[{"start":107.60000000000001,"text":"Following a significant decline in China sales in recent years, VW overtook Geely and BYD to reclaim the top position with a market share of 13 per cent in the first three months of 2026, according to Automobility, a Shanghai consultancy. The rise was mainly due to declining sales of EVs for domestic players after many Chinese government subsidies ended last year."}],[{"start":132,"text":"Ralf Brandstätter, VW’s China head, said the revived interest in petrol vehicles was likely to be shortlived, especially in light of rising fuel prices caused by the Middle East conflict."}],[{"start":142.5,"text":"Despite some stabilisation in vehicle prices after brutal discounts by Chinese and foreign carmakers, Brandstätter said VW did not expect a recovery. “We are not counting on higher prices in the future so a larger recovery must come from cost efficiency,” he added."}],[{"start":158.95,"text":"VW has already adjusted its production capacity in China to reflect a “new market reality” of lower petrol vehicle sales. There would still be extra capacity for exports despite aggressive plans to launch a raft of new products this year, according to Brandstätter."}],[{"start":174.2,"text":"The German carmaker’s profits from its Chinese operations have fallen rapidly as local competitors win market share. Volkswagen’s operating profit in China declined 45 per cent last year to €958mn from €1.7bn in 2024. "}],[{"start":192.04999999999998,"text":"Automobility data showed that China’s car sales last year totalled 23.9mn — far lower than the estimated production capacity across China’s auto industry of 45mn to 50mn cars."}],[{"start":204.35,"text":"Amid overcapacity and China’s brutal price war, carmakers such as BYD and Geely have pivoted to overseas markets where they can often make higher margins than at home. Chinese car exports hit 7.1mn in 2025, surging from below 1mn in 2020."}],[{"start":222.29999999999998,"text":"Beyond joining their Chinese rivals in using exports as a release valve for overcapacity and weak profits in their Chinese operations, analysts have predicted foreign carmakers will be forced to also increase their global sourcing from Chinese suppliers to be competitive."}],[{"start":246.04999999999998,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1776815460_1444.mp3"}