Audi to launch new electric vehicle venture with China's FAW

Audi aims to have electrified vehicles make up a third of Chinese sales by 2025. It sold 512,081 vehicles in China in the first nine months of 2020 an
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Audi has been testing the behaviour of electric car batteries, which represent a third of an EV's unit costs, in a research setting in Berlin for three years. (File photo) (REUTERS)
Audi has been testing the behaviour of electric car batteries, which represent a third of an EV's unit costs, in a research setting in Berlin for three years. (File photo)

German premium automaker Audi AG said on Tuesday it had signed a memorandum of understanding with China's state-owned FAW Group to launch a venture to make premium electric vehicles (EVs).

Audi has a long partnership with FAW, which is based in the city of Changchun in the northeast of China, the world's biggest car market. The German firm also plans to make vehicles with Shanghai-based automaker SAIC Motor.

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Audi said it would produce models based on the Premium Platform Electric (PPE), a base developed with Porsche. It said the new venture would start manufacturing several models in China from 2024.

Also Read : Audi RS models with plug-in hybrid system is not about if but when

Audi aims to have electrified vehicles make up a third of Chinese sales by 2025. It sold 512,081 vehicles in China in the first nine months of 2020 and about 690,000 vehicles last year.

Audi and Porsche's representatives in China said there was no plan for Porsche production at the new venture.

Also Read : Audi offers 'functions on demand' that can be booked online for its cars

EV makers such as home-grown Nio Inc and Xpeng Inc as well as foreign firms like U.S. leader Tesla Inc are expanding manufacturing capacity in China where the government promotes greener vehicles to reduce air pollution.

First Published Date: 13 Oct 2020, 15:28 PM IST
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