Audi AG and local partner FAW Group have created a 10-year strategic growth plan, including 21 defined key strategy fields with respective goals, in China, with a strong focus on electrification and digitalization.
As reported, 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 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 by Rupert Stadler, CEO of Audi AG; Jochem Heizmann, president of Volkswagen Group China; and Xu Ping, chairman of the board of directors of FAW Group.
“We are starting the next phase of our joint growth path in China. More than ever, our partnership is focusing on profitable, sustainable growth,” says Dietmar Voggenreiter, board member for sales and marketing at Audi AG, regarding the signing. “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, or 310.7 miles. With the Audi A6 L e-tron as the first locally produced plug-in hybrid and the Q7 e-tron as an import model, Audi will sell two electrified full-size models in China from this year on.