Audi is founding a new company in China with its local partner FAW for the construction of battery-electric luxury cars. The first Audi models on the Premium Platform Electric (“PPE”, currently based on the Audi e-tron and the Porsche Taycan) developed jointly with Porsche are to be 2024 in Changchun in northeast China roll off the assembly line, Audi announced on Monday. Audi and Volkswagen are to hold 60 percent of the shares in the joint venture, which will produce for the local market.

Twelve locally produced models CEO Markus Duesmann said that with the local production Audi would strengthen its presence in China and its positioning as a manufacturer fully electric premium vehicles. Together with FAW, Audi plans to expand its locally produced range to twelve models by the end of this year.

Changchun is also the headquarters of the FAW Volkswagen joint venture, where Audi has been involved for more than 30 years. The official establishment of the new joint venture with the approval of all parties involved and the Chinese supervisory authorities should be completed by the end of March. Audi has not yet commented on capacity or the number of employees. Last year Audi sold 727. 000 cars in China.

(fpi)