Volkswagen plans to invest more in a charging joint ventures in China to increase its bet on the world's largest electric vehicle (EV) market.

Volkswagen China and FAW-Volkswagen plan to jointly invest about 800 million yuan in charging station operator CAMS New Energy Technology (CAMS) to accelerate the layout of charging network in China.

The transaction, which will be completed after regulatory approvals are obtained, is intended to further accelerate the layout of the charging network in China and enhance the user experience.

By June 2023, CAMS had established 1,250 supercharging stations in China, offering 10,950 charging terminals covering more than 180 cities and serving more than 2 million registered users. By 2025, CAMS plans to have 17,000 fast charging terminals in China with superchargers ranging from 120 kW to 180 kW and even 300 kW to 480 kW.

In addition, Volkswagen China and CAMS have joined forces with a subsidiary of State Grid to launch a managed charging (V1G) pilot in the Beijing-Tianjin-Hebei region.