Photo: YouTube Screenshot/ The Wheel Network
In 2020, Volkswagen Audi and China state-owned FAW Group established a joint venture in the Asian country for local production of purely electric vehicles. The partnership received approval from the Chinese government and will begin construction of a $3.3 billion EV plant in the provincial capital of Changchun city.
The partnership marks Audi's first joint venture with a majority shareholder in China. Audi is looking to expand its brand presence in the Chinese market. The automaker is optimistic that the joint venture with the FAW group will help strengthen its position as a manufacturer of fully electric vehicles.
Recent data findings reveal China is currently the largest automotive market globally in supply and demand. The Asian giant's vehicle registrations rose by 6.6% to 21.1 million in 2020.
Audi isn't the only automotive leader rushing to China to secure a spot of its lucrative EV future. Tesla Motors set up a factory in Shanghai, and based on recent government records, the leading EV automaker is also setting up a design studio in Beijing.
According to China's planning regulator for the northeastern province of Jilin, the construction of the joint venture $3.3 billion plant will begin in April. It will start production in December 2024 and will have the capability of producing 150,000 electric vehicles a year.
Based on the released statement, the approval came in on February 11, 2022, and the venture plant plans to produce three full-electric vehicle models, including the Audi e-Tron SUV, Reuters reported.
Audi and FAW Group signed a memorandum of understanding for the joint venture in October 2021 during the German-Chinese Automotive Conference. Later, in November, Audi indicated plans on the facility had fallen behind schedule due to a delay in approval by relevant authorities.
FAW Group isn't the only automaker working with Audi in China. The German automaker is also looking to develop electric vehicles with SAIC Motors to account for a third of EV sales in the world's largest auto market.
Recent data findings reveal China is currently the largest automotive market globally in supply and demand. The Asian giant's vehicle registrations rose by 6.6% to 21.1 million in 2020.
Audi isn't the only automotive leader rushing to China to secure a spot of its lucrative EV future. Tesla Motors set up a factory in Shanghai, and based on recent government records, the leading EV automaker is also setting up a design studio in Beijing.
According to China's planning regulator for the northeastern province of Jilin, the construction of the joint venture $3.3 billion plant will begin in April. It will start production in December 2024 and will have the capability of producing 150,000 electric vehicles a year.
Based on the released statement, the approval came in on February 11, 2022, and the venture plant plans to produce three full-electric vehicle models, including the Audi e-Tron SUV, Reuters reported.
Audi and FAW Group signed a memorandum of understanding for the joint venture in October 2021 during the German-Chinese Automotive Conference. Later, in November, Audi indicated plans on the facility had fallen behind schedule due to a delay in approval by relevant authorities.
FAW Group isn't the only automaker working with Audi in China. The German automaker is also looking to develop electric vehicles with SAIC Motors to account for a third of EV sales in the world's largest auto market.
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