Audi FAW NEV project breaks ground in NE China

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Audi FAW NEV project breaks ground in NE China

STORY: Audi FAW NEV project breaks ground in NE China DATELINE: June 30, 2022 LENGTH: 00:00:35 LOCATION: CHANGCHUN, China CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. various of manufacture of vehicles STORYLINE: Audi FAW new-energy vehicle (NEV) project broke ground on Tuesday in Changchun, capital of northeast China's Jilin Province. The joint venture project, with an investment of over 30 billion yuan (about 4.5 billion U.S. dollars), is designed to have an annual production capacity of 150,000 vehicles. The facility, Audi's first production base specifically for purely electric vehicles in China, is expected to be completed and go into operation at the end of 2024. It will firstly produce high-end models of the A6 e-tron and Q6 e-tron. Audi holds a majority stake in the NEV joint venture with major Chinese automaker FAW. The new project came as German luxury carmaker Audi AG seeks to cash in on China's fast-growing NEV market, analysts said. In the first five months of this yea

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