China’s leading automaker First Automotive Works (FAW) and German automaker Audi signed a memorandum of understanding Tuesday on the establishment of a joint venture for production of electric vehicles based on the PPE platform.
Several all-electric Audi models are to be produced for the Chinese market on the new PPE platform from 2024 onwards.
Qiu Xiandong, general manager of FAW Group Co., Ltd., said the MoU sends a strong message on the further opening up of China’s auto industry and the strengthening of international cooperation in the field of new-energy vehicles.