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Audi to build EVs in China at new company majority owned by VW Group

Audi deal.jpg
Under the deal the three sides signed Monday (pictured), the company will be 60 percent owned by Audi and VW Group, with the remaining 40 percent stake to be held by FAW. (Audi AG)
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By:
Yang Jian
January 21, 2021 07:26 PM

Audi, seeking to quickly expand its presence in China's full-electric vehicle market, plans to launch output of a new generation of EVs in 2024 under a three-way partnership to be formed with Volkswagen Group and China's FAW Group.

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