Germany's Audi AG, a part of the Volkswagen group, China's FAW Group, and Changchun city have signed an agreement to launch a joint project to produce electric cars, Report informs.
The production of electric vehicles is expected to be launched in 2024 at the Changchun car plant. The plant's construction will cost more than 30 billion yuan ($4.62 billion).
The German carmaker Audi has so far delivered approximately 7 million cars to the Chinese market. The FAW-Audi joint venture sold 726,288 vehicles in mainland China in 2020, a record figure in Audi's 30-year presence in the Chinese market.