News Formal

China can now rival the US with new innovations in tech, VW finance chief says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

The chief financial officer of Volkswagen sought to highlight how China was helping to drive innovation in the automotive industry.

These include autonomous vehicles and the development of 5G infrastructure.China is helping to drive technological change in the automotive sector, the chief financial officer of Volkswagen told CNBC Thursday.

"I think for the longest time we have been used to looking to the west coast of the United States when we were talking about innovation and new technologies," Witter told CNBC's "Squawk Box Europe."Witter said that, looking at motor shows in China year-over-year, it was "just amazing how quickly the industry is progressing," highlighting development at China's OEMs .

The Volkswagen Group's relationship with China dates back to 1978. In 2017, it launched a joint-venture with the state-owned Anhui Jianghuai Automobile Co., looking at e-mobility. Looking at the bigger picture, when it comes to autonomous driving a range of technologies are being developed and tested.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Foreign automakers Mitsubishi, VW, Mercedes challenge Detroit in growing US pickup marketMost of the new entrants will target the midsize truck market which is expected to be one of the fastest growing segments in the U.S. between now and mid-decade. If you want to compete in the us market for trucks you need em biiiig
Source: CNBC - 🏆 12. / 72 Read more »

Stocks in Australia poised to decline; US-China trade talks set to resume in BeijingThe U.S. and China are set to resume trade talks later on Tuesday. U.S. Treasury Secretary Steven Mnuchin said in an interview that negotiations between the two economic powerhouses were in 'the final laps,' according to a New York Times report from Sunday. Anyone else wonder why every week the Trump Administration sends out teasers about this trade deal, yet here we are with nothing. I wish I could short the trade deal - I bet that would be profitable. themoneygps jimcramer
Source: CNBC - 🏆 12. / 72 Read more »