On October 13, FAW Group And Audi signed a memorandum of understanding (MOU) in Changchun to jointly set up a new energy joint venture to produce pure electric PPE models in China.

        As a key goal of its electrification strategy, Audi aims to increase sales of electric models to about one-third of its total sales in China by 2025. To quickly expand its lineup of Electric vehicles, Audi teamed up with Porsche to develop the Premium Platform Electric for large Electric models. The new joint venture has plans to introduce the platform, with the first high-end electric cars expected to go into production in 2024.

       The new joint venture between FAW and Audi also means that their cooperation has been elevated to a new level. "This partnership once again underscores the strategic importance of the Chinese market," said Tom Duthmann, chairman of audi Ag's management board. We will pay more attention to Audi's business in China and actively promote the innovative development of the Chinese market."

        As the largest single market in the world, Audi delivered a total of 512,081 new cars in China from January to September 2020, with a year-on-year growth of 4.5%. Audi currently produces nine models locally at FAW-Volkswagen's changchun, Foshan, Tianjin and Qingdao plants. In the next few years, Audi will introduce and produce more E-tron family electric models in the Chinese market to better meet the high-end travel demands of Chinese consumers.