Volkswagen's premium automaker Audi's joint venture to build electric vehicles in China with state-owned FAW Group is behind schedule due to a delay in approval by the relevant authorities, Audi said on Monday.
Building work would be initiated "as soon as possible", but no start date for either construction of the plant or production of cars was provided.
German auto publication Automobilwoche reported on Monday that the licence for Audi and FAW to begin building the plant, which was due to start producing cars from 2024, is expected to arrive in December after intervention from Germany's economic ministry.
The German economic ministry was not immediately available for comment.
Audi signed a memorandum of understanding with FAW in October 2020 to jointly produce premium electric vehicles (EVs) in China, the world's largest car market.
The German carmaker has a long-standing partnership with FAW to make combustion engine cars in the northeastern city of Changchun and the southern city of Foshan.
FAW owns 40% of the joint venture, while Volkswagen and Audi own 60%.
Audi also plans to make vehicles with Shanghai-based automaker SAIC Motor, with a goal for electric vehicles to account for a third of Chinese sales by 2025.
Reuters
Audi-FAW electric vehicle venture delayed
Image: Supplied
Volkswagen's premium automaker Audi's joint venture to build electric vehicles in China with state-owned FAW Group is behind schedule due to a delay in approval by the relevant authorities, Audi said on Monday.
Building work would be initiated "as soon as possible", but no start date for either construction of the plant or production of cars was provided.
German auto publication Automobilwoche reported on Monday that the licence for Audi and FAW to begin building the plant, which was due to start producing cars from 2024, is expected to arrive in December after intervention from Germany's economic ministry.
The German economic ministry was not immediately available for comment.
Audi signed a memorandum of understanding with FAW in October 2020 to jointly produce premium electric vehicles (EVs) in China, the world's largest car market.
The German carmaker has a long-standing partnership with FAW to make combustion engine cars in the northeastern city of Changchun and the southern city of Foshan.
FAW owns 40% of the joint venture, while Volkswagen and Audi own 60%.
Audi also plans to make vehicles with Shanghai-based automaker SAIC Motor, with a goal for electric vehicles to account for a third of Chinese sales by 2025.
Reuters
Nissan to spend $17.6bn on amping up electrification
Apple global battery development chief moves to Volkswagen
Geely’s Lotus Technology aims to raise up to $500m in funds
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos