BERLIN -- Volkswagen Group wants to expand both its higher-end and lower-end offering in the Chinese market, China chief Ralf Brandstätter said, calling the country's high-paced, competitive market a "giant fitness center for the industry."
Volkswagen has long dominated the combustion engine car market in China but lags domestic competitors on electric vehicles - most notably BYD, which sold 40,046 EVs between Jan. 1-8 compared to VW brand's 1,962, according to Chinese brokerage CMBI.
"We do not want to give up this competition - we want to participate," Brandstätter said at a media roundtable.
Asked if the automaker aspired to remain the number 1 foreign automaker in China in the electric era, he said: "We want to play a leading role... the cards are being mixed anew."
The company aims to speed up its time to market for new models from four years closer to the 2.5-year average for its Chinese counterparts, in part by localizing research and devel…