BEIJING, (Reuters) – Volkswagen’s Audi will deepen its partnership with China’s SAIC for future generations of models under their co-owned new brand, with four to be launched in China in the coming years, the German premium automaker said on Friday.
The automakers, which rolled out the EV brand that drops Audi’s iconic four-ring logo and carries only the Audi name in 2024, will also cooperate to build an innovation and technology centre in Shanghai, Audi said in a statement.
The move comes as German carmakers seek to deepen their production and development footprint in China in response to falling sales and cut-throat competition with local brands.
Audi and SAIC’s first model was brought to the market last year, the E5 Sportback, which has so far generated sales of around 10,000 vehicles.
The car, which made up the lion’s share of Audi’s first-quarter EV sales in China, is part of a push to woo younger customers in the world’s largest car market.
Reporting by Park Ju-min and Rachel More, Writing by Liz Lee; Editing by Himani Sarkar, Christian Schmollinger and Miranda Murray
