Volkswagen AG VOWG_p.DE said on Monday it and three local joint ventures plan to invest around 15 billion euros ($17.44 billion) in electric mobility in China, the world’s biggest car market, between 2020 and 2024. With the investment by Volkswagen and its three joint ventures with FAW Group [SASACJ.UL], SAIC Motor 600104.SS and JAC 600418.SS , the German automaker will build 15 different battery electric or plug-in hybrid models in China by 2025. The Wolfsburg-based auto maker will start making electric vehicles based on its MEB architecture at two Chinese factories from October. It will source EV batteries from CATL 300750.SZ , Guoxuan 002074.SZ and A123.