Germany’s Volkswagen Group VWAGY delivered 10,126 ID. series of electric vehicles in China last month, up 7,023 vehicles the month before, cnEVpost reported Sunday, citing company data.
What Happened: The September numbers bring Volkswagen’s monthly ID deliveries in neck-to-neck competition with homegrown rival Nio Inc's NIO 10,628 electric car deliveries and Xpeng Inc’s XPEV 10,412 deliveries.
Volkswagen, which has an ambitious sales target for its ID. series in China, is expected to get a further boost when it launches the more-affordable ID.3 model later this year.
See Also: Nio Deliveries Jump 125% In September As It Debuts In Norway, Rival Xpeng Registers 199% Growth
The German automaker began delivering its first all-electric ID.4 Crozz in March this year, a model that it makes in partnership with China’s FAW Group.
In July, the companies started delivering the six-seater and seven-seater electric vehicle ID.6 Crozz.
Why It Matters: The world’s second-largest automaker aims to sell up to 100,000 ID. series electric vehicles in China this year. The automaker makes and sells the ID.4 and the ID.6 series in China with local joint ventures.
China is crucial to Volkswagen's success overall, a market where rival Tesla Inc TSLA has made a huge head start. The German automaker sold 1.85 million vehicles in the country in the first half of 2021, making China its single largest market with a 37% share of total volumes. Volkswagen brands make up for 18% share of the China auto market, as per LMC Automotive, reports the Wall Street Journal.
Price Action: VWAGGY shares closed 0.16% higher at $31.17 a share on Friday.
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Photo: Courtesy of Volkswagen
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