Joint venture leaders vow even broader, deeper partnership

Executives explain the value chain co-innovation during the ceremony. [Photo/China Daily]

After 30 years of successful cooperation that in many ways represents the pinnacle of success in the world's largest car market, China FAW Corporation Limited and Audi AG are driving into a new era of partnership.

Since the deal with FAW in 1988 to produce Audi 100 sedans, the German marque has been the pioneer and exemplar in China's premium car segment.

Among other achievements, Audi has topped the sales chart for three decades, delivering more than 5 million units in the country, and has ranked first in sales and after-sales services for 23 years by JD Power.

Building on those laurels, the two sides are now vowing to take their partnership to a new level.

With a focus on value-chain innovation, their future cooperation will cover a wide range of aspects, including the introduction of new models, enhancing local research and development and offering mobility services.

"China's automotive industry is entering into a new era, and we will actively strengthen our partnership with Audi and Volkswagen Group as a whole in a more open-minded way and at an even higher level," FAW Chairman Xu Liuping said.

Alexander Seitz, an Audi board member responsible for China operations, noted that China has become the strongest growth engine for Audi and that the company is therefore determined to focus even more strongly on the market.

According to Seitz, the premium carmaker will speed up efforts to introduce more China-specific models so as to better meet the demands of customers in the fast-evolving Chinese market.

A number of models are around the corner, including the Q2L e-tron, Audi's first electrified model designed for China, and the e-tron, the carmaker's first pure electric SUV. By 2022, FAW-Volkswagen will localize five Audi new energy vehicles.