Audi and FAW from China join forces

Audi will join forces with the oldest Chinese manufacturer. FAW is the third largest carmaker in China and is trying to strengthen its position in the domestic market in fierce competition from companies such as Geely and SAIC. In cooperation with Audi, it will build a new factory in which the electric cars of the German company will be produced, Telegrafi reports.

By the way, FAW already produces Audi models and has collaborated with Audi and VW for years. The $ 4.6 billion facility is scheduled to open in 2024 in Changchun in Northeast China.

Audi will own 60 percent of the shares, and the remaining 40 percent will be owned by FAW. China is Audi's largest overseas market in which it sold more than 727,000 vehicles last year. Audi's plan is for electric vehicles to account for a third of its sales in China by 2025.