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Audi strengthens business in China:
First majority interest held by Audi in new cooperation company for local electric car production with FAW
- Audi and FAW confirm a new cooperation company for the future production of PPE-based electric vehicles in Changchun in the northeast of China.
- Markus Duesmann, Chairman of the Board of Management of AUDI AG:
“With the new Audi-FAW company in Changchun, we are further expanding our presence on the Chinese market and actively helping to shape the transformation of the Chinese automotive industry.”
- Werner Eichhorn, President of Audi China: “This deepened partnership between Audi and FAW heralds a new era of electrification as the next ‘golden decade’ for Audi on the important Chinese market.”
The brand with the Four Rings 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 today at the ceremonial signing in Changchun and Beijing. AUDI AG and Volkswagen Group China will receive a 60-percent 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.