Volkswagen looks to overseas markets for China-built cars – report

Group 1 - Volkswagen plans to increase exports of China-built vehicles to international markets, including the Middle East, Southeast Asia, Africa, and South America, to mitigate domestic pressures and leverage lower manufacturing costs [1][2] - The company is reorganizing its Chinese operations to enhance competitiveness against local electric vehicle manufacturers like BYD, which includes relocating R&D efforts and forming a software partnership with Xpeng [2][3] - Volkswagen aims to launch 20 new electrified models in China this year to recover from a significant decline in deliveries, which fell to approximately 2.7 million last year from over 4 million pre-pandemic [2] Group 2 - The downturn has particularly affected Porsche, with a notable decline in luxury car sales, while Volkswagen is focusing on a new electronics architecture developed with Xpeng to cater to local consumer preferences [3] - The company is undergoing a broader restructuring in response to weak demand in China, US tariffs, and inconsistent sales in Europe, which includes workforce reductions and an expansion of its hybrid vehicle range [4] - Volkswagen aims to maintain its position among the top three car manufacturers in China and increase its market share to 15% by 2030, up from around 11% [5]