Audi And FAW Confirm A New Cooperation Company To Build EVs

0
199

Audi is deepening its partnership with FAW and laying the foundation for continued success in China. The Board of Management of Audi, Supervisory Board of the Volkswagen Group and Board of Management of the FAW Group confirmed that Changchun in the northeast of China will be the headquarters of the newly founded Audi-FAW company. This was announced at the ceremonial signing in Changchun and Beijing. Audi AG and Volkswagen Group China will receive a 60 per cent share, making this company – founded for the local production of fully electric Audi models on the “Premium Platform Electric” (PPE) codeveloped with Porsche – the first cooperation company with a majority interest held by Audi in China.

Markus Duesmann, Chairman of the Board of Management of Audi AG and the person responsible for business in China said, “In doing so, we are continuing the Audi success story in China and actively helping to shape the transformation of the Chinese automotive industry as it moves toward sustainable mobility.”

Local manufacturing of the first PPE model produced jointly with FAW is scheduled to start by 2024. Changchun is also the headquarters of the joint venture FAW‑Volkswagen, which Audi has been involved in for more than 30 years and, in addition to other locations in China, already produces models with Audi locally.

FAW Audi Sales Co., Ltd. will assume responsibility for selling the Audi models produced locally by FAW-Volkswagen as well as Audi import vehicles and future cars produced at the joint PPE plant. Through these strategic decisions, Audi is further strengthening its presence on its biggest foreign market. This partnership with FAW will allow Audi to increase the number of locally produced models to 12 by the end of 2021. The models produced by its second partner, SAIC Volkswagen, are set to be introduced in 2022. Audi has so far delivered almost 7 million vehicles on the Chinese market. In 2020 alone, Audi sold 727,358 vehicles in China, the brand’s best ever result in over 30 years of business on the Chinese market.