: Audi is betting on the Chinese luxury electric-vehicle market in a joint venture with the country’s oldest car maker


In October 2020, the 2 groups signed a memorandum of understanding on joint electric-vehicle production in Changchun, where both Volkswagen and Audi vehicles have been made by FAW given that 1991. “We are continuing the Audi success story in China and actively helping to form the improvement of the Chinese automotive market as it moves toward sustainable movement,” Duesmann stated. China is currently Audis single-largest market, as well as the worlds largest electric-vehicle market. Audi isnt the first German automobile maker to bet on Chinas EV market.

“We are continuing the Audi success story in China and actively assisting to shape the transformation of the Chinese vehicle industry as it moves toward sustainable mobility,” Duesmann stated. China is already Audis single-largest market, as well as the worlds biggest electric-vehicle market. Audi isnt the first German vehicle maker to wager on Chinas EV market.
BMW,.
+2.56%,.
which likewise makes Mini cars and trucks, has a joint venture to produce electric cars with Great Wall, the nations biggest SUV and pickup manufacturer.

Audi and FAW, Chinas oldest cars and truck maker, have started a new company to produce premium, fully-electric automobiles in northeastern China, in a bet on the worlds largest cars and truck market. The joint endeavor will be 60% controlled by Audi and the Chinese division of its moms and dad group, Volkswagen
VOW,
+2.77%,.
with FAW.
000800,.
+2.25%.
managing 40%.


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