SHERIDAN, WYOMING – Dec. 29, 2024 – FAW Group Corporation, China's oldest and largest automotive group, and Audi AG, the German luxury car manufacturer, have signed a Memorandum of Understanding (MoU) to import Completely Knocked Down (CKD) parts for electric vehicle (EV) production in China. The agreement, signed at the seventh China International Import Expo (CIIE) in Shanghai, marks a significant step in expanding the production and availability of high-end EVs in the Chinese market.
Expanding EV Production to Meet Growing Demand
Under the terms of the MoU, Audi FAW New Energy Vehicle Co., Ltd. (Audi FAW), a joint venture between FAW and Audi, will begin importing CKD parts from Audi AG in 2025. These parts will be used for the complete vehicle production and sales of EVs, enabling Audi FAW to increase production capacity and meet the growing demand for premium electric vehicles in China.
Collaboration to Enhance Green Mobility
The partnership between FAW and Audi aims to provide Chinese consumers with a wider range of intelligent and eco-friendly mobility solutions. By collaborating on EV production, the two companies are demonstrating their commitment to sustainable transportation and contributing to China's efforts to reduce carbon emissions.
FAW Group: A Leading Force in the Automotive Industry
FAW Group is a global leader in the automotive industry, with annual sales exceeding three million units. The company has a long history of innovation and excellence, dating back to its establishment in 1953. FAW's partnership with Audi AG reinforces its position as a key player in the rapidly evolving EV market.
Audi AG: Committed to Sustainable Mobility
Audi AG is renowned for its premium automobiles and its commitment to sustainable mobility. The company's collaboration with FAW Group underscores its dedication to expanding its EV offerings and providing customers with a diverse range of electric vehicles that meet their needs and preferences.
A Shared Vision for the Future of Mobility
The MoU between FAW Group and Audi AG represents a shared vision for the future of mobility in China. By combining their expertise and resources, the two companies are well-positioned to drive the adoption of electric vehicles and contribute to a cleaner, more sustainable transportation sector.