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Published: Fri, April 28, 2017
Economy | By Melissa Porter

The latest from the Shanghai auto show

The latest from the Shanghai auto show

These plans included a prediction that by 2020, the majority of VW sales in China would be of electric or hybrid vehicles, through partnerships with local firms as well as ride-hailing pioneer Didi.

The announcement was made by the president of GM's China unit, Matt Tsien, at the Shanghai Auto Show, according to the report.

The decision to manufacture the electric vehicle in China is a no-brainer for Volvo not only because its owned by Geely firm but also because the Chinese market is the world's largest consumer of hybrid and electric cars. The ruling Communist Party has the world's most aggressive electric vehicle goals, both to clean up smog-shrouded cities and seeking the lead in an emerging industry.

This is published unedited from the PTI feed.

Expect the new electric Volvo XC40 (or whatever it's called) to arrive in 2019 and cost from around £35,000.

"It will be a body style that we expect will have global acceptance and we will start production with the battery-only version only, with internal combustion variants that could follow later", Samuelsson told Automotive News Europe at the auto show here.

Volvo announced this week that it will build its first electric auto in China and that it will offer the vehicle globally.

VolvoVolvo is looking to China for the future of its electric cars.

With the rising pollution level in the country, the Government of India is laying increased emphasis on adoption of electric vehicles. Automakers have warned they may be unable to meet those targets and regulators have suggested they might be reduced or postponed. Analysts at UBS say the shift from combustion toward electric cars is a 100 billion euros ($107 billion) revenue opportunity for suppliers.

The government is expanding China's network of charging stations to reduce "range anxiety", or buyers' fear of running out of power.

Despite the increasing support from Beijing for the EV industry, sales of electric and gas-electic hybrids fell 4.4% in Q1.

GM's China business generated about $2 billion in equity income from its joint-venture partnerships past year, about 16% of its total pretax profit.

The Chinese team is capable of developing entire vehicles, rather than merely customizing designs originated in Europe, Daimler Chief Executive Dieter Zetsche said, adding that how R&D would be divided between China and other Mercedes-Benz research centers remained to be seen.

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