A worker walks for the upcoming auto show to be held in Beijing, China, Wednesday, April 24, 2024. Foreign automakers have been caught flat-footed in China by an electric vehicle boom that has shaken up the market over the last three years. That has left manufacturers like Volkswagen scrambling to develop new models for a very different market than at home. (AP Photo/Tatan Syuflana)
Volkswagen CEO Oliver Blume speaks during a media event held by the Volkswagen Group a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
Attendees wait to see the latest cars from Volkswagen Group during a media event held a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
Stephan Winkelmann Chairman and CEO of Lamborghini unveils the Urus SE, the first hybrid plug-in version of the Lamborghini Super SUV, during a media event by Volkswagen Group a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
The public premier of Urus SE, the first hybrid plug-in version of the Lamborghini Super SUV, is shown at a Volkswagen Group media event held a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
Volkswagen CEO Oliver Blume speaks during a media event held by the Volkswagen Group a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
Attendees pose for photos near the latest cars unveiled during a media event held by the Volkswagen Group a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
Workers prepare for the upcoming auto show to be held in Beijing, China, Wednesday, April 24, 2024. Foreign automakers have been caught flat-footed in China by an electric vehicle boom that has shaken up the market over the last three years. That has left manufacturers like Volkswagen scrambling to develop new models for a very different market than at home. (AP Photo/Tatan Syuflana)
Attendees look at the Urus SE, the first hybrid plug-in version of the Lamborghini Super SUV, shown at a Volkswagen Group media event held a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
The Audi Q6L e-tron is shown during a media event held by the Volkswagen Group a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
Workers prepare at a Rolls Royce car booth for the upcoming auto show to be held in Beijing, China, Wednesday, April 24, 2024. Foreign automakers have been caught flat-footed in China by an electric vehicle boom that has shaken up the market over the last three years. That has left manufacturers like Volkswagen scrambling to develop new models for a very different market than at home. (AP Photo/Tatan Syuflana)
Attendees look at the cars shown to the media at an event held by the Volkswagen Group a day before the auto show in Beijing, Wednesday, April 24, 2024. The Volkswagen Group, which includes Audi and Porsche, plans to launch 40 new models in China over the next three years and to have a lineup of 30 EVs by 2030. (AP Photo/Ng Han Guan)
Workers prepare at a Bentley booth for the upcoming auto show to be held in Beijing, China, Wednesday, April 24, 2024. Foreign automakers have been caught flat-footed in China by an electric vehicle boom that has shaken up the market over the last three years. That has left manufacturers like Volkswagen scrambling to develop new models for a very different market than at home. (AP Photo/Tatan Syuflana)
A woman walks past cars by Volkswagen a day before the auto show in Beijing, Wednesday, April 24, 2024. Foreign automakers have been caught flat-footed in China by an electric vehicle boom that has shaken up the market over the last three years. That has left manufacturers like Volkswagen scrambling to develop new models for a very different market than at home. (AP Photo/Ng Han Guan)
A woman walks past cars on display at a Volkswagen event ahead of the auto show in Beijing, Wednesday, April 24, 2024. Foreign automakers have been caught flat-footed in China by an electric vehicle boom that has shaken up the market over the last three years. That has left manufacturers like Volkswagen scrambling to develop new models for a very different market than at home. (AP Photo/Ng Han Guan)