FAW, Audi Join Hands to Set up PEV Joint Venture
FAW and Audi signed a memorandum of understanding at the 2020 China-Germany Automobile Congress on October 13, 2020. The two sides agreed to establish a joint venture to produce pure electric vehicles as an effort to deepen cooperation and seize development opportunities in new energy market.
The joint venture is said to usher in such a top-end platform PPE jointly developed by Audi and Porsche for big electric vehicles.
As the largest market for Audi on an international scale, FAW-VW, although affected by the pandemic, managed to have made 512,081 new cars from January to September this year, up 4.5% year on year, the highest record over the past 32 years.
