Audi to further expand business activities in Chinese market
German automobile manufacturer Audi is set to further expand its business activities in the Chinese market.
Together with its local partner FAW Group, the company has defined 21 key strategy fields with respective goals in a 10-year plan.
Audi will significantly expand its model portfolio locally produced at FAW VW and enter new segments, including electrified automobiles.
With a new dedicated company for mobility and digital services, the two partners want to advance their joint commitment in this expanding premium business segment.
Furthermore Audi and FAW will intensify their collaboration in financial services aiming to serve the rapidly growing demand from Audi customers in this field. With this agenda for the future, Audi and FAW are laying the groundwork to continue the growth strategy of the four rings in China.
The agreement was signed yesterday in Changchun by AUDI CEO, Rupert Stadler, Volkswagen Group China President Jochem Heizmann and FAW Group Board of Directors Chairman Xu Ping.
Rupert Stadler said: “In the past 29 years, Audi and the FAW Group have written Chinese automotive history. Together we have established the premium market in China and have continuously advanced its development.
“Now we are once again setting a historic milestone by enhancing our successful partnership with a strong roadmap for the coming decade.”
AUDI Sales and Marketing Board Member Dietmar Voggenreiter, with regard to the signing of the agreement in Changchun said: “We are starting the next phase of our joint growth path in China. More than ever, our partnership is focusing on profitable, sustainable growth.
“China is the leading market worldwide for electric mobility. With our e-tron initiative, we want to create a compelling premium offer of products and services here.”
In the next five years alone, Audi and FAW have agreed to produce five additional e-tron models locally and introduce them to the Chinese market – including purely battery-powered cars with ranges of more than 500 kilometers (310.7mi).
With the Audi A6 L e-tron as first locally produced plug-in hybrid and the Q7 e-tron as import model, Audi will sell two electrified full-size models in China from this year on.
Source: Company Press Release