Audi strengthens business in China: First majority interest held by Audi in new cooperation company for local electric car production with FAW
With the new Audi-FAW company in Changchun, we are further expanding our presence on the Chinese market and strengthening our position as a manufacturer of fully electric premium vehicles through local production, says Markus Duesmann, Chairman of the Board of Management of Audi AG and the person responsible for business in China. 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 manufacture of the first PPE model produced jointly with FAW is scheduled to start by 2024.
Founding of cooperation company with FAW for future success in China
“This deepened partnership between Audi and FAW heralds a new era of electrification as the next ‘golden decade’ for Audi on the highly important Chinese market,” says Werner Eichhorn, President of Audi China. 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.
Introduction of SAIC as second partner to further boost business on the Chinese market
This partnership with FAW will allow Audi to increase the number of locally produced models to 12 by the end of 2021. 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.
Jan 20, 2021 at 18:27