Go to Article
Excerpt from ca.finance.yahoo.com
Volkswagen’s (VWAGY) Audi is pushing deeper into the Chinese market as US rivals like GM (GM) and Ford (F) look to minimize losses in the region and the US ramps up tariffs on Chinese EVs.
On Monday, Audi announced it had signed a deal with China’s state-owned SAIC to develop new EVs for the mainland.
Audi said the SAIC deal would begin with three new EV models covering the B and C segments — small to midsize vehicles — with the first model entering the market in 2025. Audi said the deal with SAIC will reduce its time to market by more than 30%.
Audi CEO Gernot Döllner said the deal “marks a significant milestone in Audi’s China strategy.”