The German automaker also reaffirmed plans to boost its footprint in the world's biggest car market by investing almost 10 billion euros over the next three years. "We will be launching the largest investment program in China's automotive history," said VW CEO Martin Winterkorn.
VW is building seven new car plants in China and plans to boost annual production capacity there to 4 million units a year from 2.6 million today.
EVs will help Volkswagen further lower average fuel consumption for its cars, the company said. Fuel consumption of VW cars in China has already been lowered by 20 pc in the 2005-2010 period, but the company aims for a further 11 pc cut by 2015.