Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Automaker Email this story   Print this story
Audi set to produce at SAIC VW after buying 1% stake in venture
Automotive News China | 2018/6/29

Audi has bought a 1 percent stake in SAIC Volkswagen Automotive Co., paving the way for the joint venture to build and sell Audi vehicles.

Audi paid 115 million yuan ($17.5 million) for the stake on April 10, according to the National Enterprise Credit Information Disclosure System, a Beijing operation that also tracks shareholding structure changes of businesses incorporated in China.

After Audií»s purchase, SAIC VW has been restructured into a 50-48-1-1 partnership among SAIC Motor Corp., Volkswagen Group, Skoda and Audi. Skoda acquired a stake in the joint venture earlier. 

Currently, only FAW-Volkswagen Automotive Co. -- a 60-30-10 partnership among China FAW Group Corp., VW Group and Audi -- produces and distributes Audi vehicles.

Audi has sought a new production site and a second distribution network in China to fend off competition from German luxury rivals Mercedes-Benz and BMW.

In November 2016, VW Group and SAIC signed a letter of intent to let SAIC VW produce and market Audií»s products. But the move prompted strong protests from Audií»s dealers in China. To appease the retailers, the document has yet to be signed into a legally binding agreement.

Audi, which remained the largest luxury brand in China in 2017, was outsold by Mercedes through the first five months of this year: Audi sold 258,413 vehicles, while Mercedes delivered 283,219. 

Related Stories
  • For global automakers, the urgent but delicate need to take control of China JVs
  •     --Published:2019/22/3
  • VW CEO draws SAIC complaint over remarks about raising stake in joint ventures
  •     --Published:2019/19/3
  • VW Group sales fall in Feb. behind weak Skoda, VW brand results
  •     --Published:2019/19/3
  • BMW, Audi gain; Mercedes Feb. sales dip
  •     --Published:2019/15/3
  • Audi mulls hiking stake in FAW, SAIC joint ventures
  •     --Published:2019/15/3
  • VW's newest brand arrives at a bad time for Chinese automakers
  •     --Published:2019/1/3
  • Volkswagen, Microsoft deepen cloud computing ties
  •     --Published:2019/1/3
  • VW forms joint venture with ride-hailing giant Didi
  •     --Published:2019/26/2
  • VW Group deliveries dip for 6th straight month
  •     --Published:2019/19/2
  • VW hikes EV target by 50% with China, budget models
  •     --Published:2019/19/2
  • VW brand sales drop 3.1% in January for 8th straight decline
  •     --Published:2019/15/2
  • Mercedes-Benz outsells Audi on sedan demand
  •     --Published:2019/12/2
  • Audi maintains sales growth behind long-wheelbase A4 volume
  •     --Published:2019/5/2
  • VW China CEO to join VW brand's management board
  •     --Published:2019/29/1

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     


    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
    Home | Help Center | About Us | Privacy Policy | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.