BEIJING, April 17 (Reuters) - Audi will deepen its partnership with China's SAIC for future generation of Audi models, with four of them to be launched in China in coming years, it said in a statement
Audi, SAIC will jointly develop future models under new China brand
Strategic Partnership and Expansion in China
Deepening Collaboration for Future Models
BEIJING, April 17 (Reuters) - Volkswagen's Audi will deepen its partnership with China's SAIC for future generations of models under their co-owned new brand, with four to be launched in China in the coming years, the German premium automaker said on Friday.
Innovation and Technology Initiatives
The automakers, which rolled out the EV brand that drops Audi's iconic four-ring logo and carries only the Audi name in 2024, will also cooperate to build an innovation and technology centre in Shanghai, Audi said in a statement.
Market Context and Competitive Landscape
The move comes as German carmakers seek to deepen their production and development footprint in China in response to falling sales and cut-throat competition with local brands.
Product Launches and Sales Performance
Introduction of the E5 Sportback
Audi and SAIC's first model was brought to the market last year, the E5 Sportback, which has so far generated sales of around 10,000 vehicles.
Targeting Younger Customers
The car, which made up the lion's share of Audi's first-quarter EV sales in China, is part of a push to woo younger customers in the world's largest car market.
(Reporting by Park Ju-min and Rachel More, Writing by Liz Lee; Editing by Himani Sarkar, Christian Schmollinger and Miranda Murray)
