SHERIDAN, WYOMING – Dec. 29, 2024 – FAW Group Corporation, a leading global automotive manufacturer, and Volkswagen AG, a global automotive giant, have signed a Memorandum of Understanding (MoU) to import complete vehicles and auto parts into China. This strategic partnership aims to enhance the quality of travel experiences for Chinese consumers by diversifying product offerings and leveraging the strengths of both companies.
Expanding Automotive Offerings in China
Under the MoU, FAW-Volkswagen will commence importing select parts and complete Audi vehicles from Volkswagen AG in 2025. This collaboration will expand the range of automotive options available to Chinese consumers, catering to diverse preferences and needs.
A Landmark Agreement at CIIE 2024
The MoU was signed at the seventh China International Import Expo (CIIE) in Shanghai. The signing ceremony was attended by prominent figures from both companies, underscoring the significance of this partnership.
Enhancing Travel Experiences for Chinese Consumers
By introducing a wider selection of vehicles and parts, FAW and Volkswagen AG aim to provide Chinese consumers with an enhanced travel experience. The partnership will focus on meeting the evolving demands of the Chinese automotive market.
About FAW Group
FAW Group Corporation is a leading global manufacturer of passenger cars, trucks, and buses. Established in 1953, FAW is China's oldest and largest automotive group, with annual sales exceeding three million units.
About Volkswagen AG
Volkswagen AG is a global automotive leader with a diverse portfolio of brands and a strong presence in the Chinese market. The company is committed to innovation and providing sustainable mobility solutions.