Audi has bought a 1 percent interest in SAIC Volkswagen Automotive, paving a approach for a corner try to build and sell Audi vehicles in China.
Audi paid 115 million yuan ($17.5 million) for a interest on Apr 10, according to a National Enterprise Credit Information Disclosure System, a Beijing operation that also marks shareholding structure changes of businesses incorporated in China.
After Audi’s purchase, SAIC VW has been restructured into a 50-48-1-1 partnership among SAIC Motor, Volkswagen Group, Skoda and Audi. Skoda acquired a interest in a corner try earlier.
Currently, usually FAW-Volkswagen Automotive — a 60-30-10 partnership among China FAW Group, VW Group and Audi — produces and distributes Audi vehicles.
Audi has sought a new prolongation site and a second placement network in China to deflect off foe from German oppulance rivals Mercedes-Benz and BMW.
In Nov 2016, VW Group and SAIC sealed a minute of vigilant to let SAIC VW furnish and marketplace Audi’s products. But a pierce stirred clever protests from Audi’s dealers in China. To damp a retailers, a request has nonetheless to be sealed into a legally contracting agreement.
Audi, that remained a largest oppulance code in China in 2017, was outsold by Mercedes by a initial 5 months of this year: Audi sole 258,413 vehicles, while Mercedes delivered 283,219.
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