German car giant Audi investing billions of euros in China EV plant

Audi China’s President Jurgen Unser says German Chancellor’s visit sends a strong message and that China-Germany ties are mutually beneficial. Dr. Unser was involved in setting up Audi plants in Foshan, Tianjin and Qingdao. Now he is working on building a pure electric vehicle plant in Changchun, which Audi is investing 2.6 billion euros and holds a majority share of 60 percent. Allowing foreign companies to hold majority stakes in joint ventures is in line with China’s high-standard opening up policy, which was highlighted at the just concluded 20th National Congress of the CPC. Experts like CCG’s Andy Mok say in the EV sector, China and Germany can be strategic partners. China is Audi’s biggest market with over 700 thousand vehicles sold in 2021, more than Audi’s total sales in Europe and triple the number sold in the U.S. The Four Rings’ Changchun Premium Platform Electric or PPE plant broke ground in June and will start production by the end of 2024. It’s designed to produce 150 thousand EVs a year and create 3,000 jobs. __________________ ShanghaiEye focuses on producing top-quality contents. Nobody knows SHANGHAI better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What’s up today in Shanghai, the most updated news of the city ■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them ■ What Chinese people’s lives are like during the post COVID-19 period ■ Views of foreign scholars on China and its affairs ■ Foreign faces in Shanghai, people living in this city sharing their true feelings ■ Mini-docs showing why China is the country it is today __________________ ☎Leave us messages if you have any suggestions or questions! Thank you!