Audi, FAW launch 30-billion-yuan NEV project in China

CHANGCHUN, Feb. 18 (Xinhua) -- China's leading automaker First Automotive Works (FAW) and German automaker Audi on Friday officially launched a project to produce pure electric vehicles in Changchun, capital of northeast China's Jilin Province.

Bearing a total investment of more than 30 billion yuan (about 4.74 billion U.S. dollars), the joint project will be put into operation around the end of 2024 and is expected to have an annual production capacity of 150,000 vehicles, the automakers noted.

The project is expected to fuel economic and trade cooperation between China and Europe and northeast China's revitalization.

The new base will be Audi's first one for pure electric car models in China and will produce its first three electric car models including one SUV and one sedan car after completion. It is expected to realize carbon dioxide neutralization during car manufacturing and have its own battery assembly workshop.

To date, Audi has delivered more than 7 million cars in China with its cooperation partners. In 2021, the company delivered about 700,000 vehicles in the Chinese market and the sales of its pure electric car model e-tron saw a 68.7 percent year-on-year increase.

By the end of this year, nine electric car models of Audi are expected to be sold in the Chinese market, according to the company.