Volkswagen AG and its Chinese partners will jointly invest nearly $12 billion by 2025 in developing electric cars for the local market, VW’s China chief executive said. That will enable the German auto group—which operates in China through joint ventures with the state-run SAIC Motor Corp. 600104 -0.86% and FAW Group Corp.—to release five electric-car models in China annually until 2025, or around 40 in all, Jochem Heizmann told reporters here Thursday. The Guangzhou Auto Show opens to the public Saturday. Some automakers, both foreign and domestic, are scrambling to meet a Chinese government requirement that electric vehicles account for roughly 3% to 4% of their total output in 2019, but Mr. Heizmann said that won’t be a problem for VW. With plans in place to have […]