The Signing Ceremony for Audi FAW NEV Project Setting in Changchun was held in Changchun, the capital city of northeast China’s Jilin province on Jan 18.

The new company was founded for the production of high-end fully electric Audi models on the “Premium Platform Electric” (PPE), which was co-developed by Audi and Porsche. With the planned investment of more than 30 billion Yuan, the PPE-based company is scheduled to put into production in 2024. FAW Audi Sales Co., Ltd. will assume responsibility for selling the Audi models produced at the new plant.

FAW is a leading global manufacturer of quality passenger cars, trucks, and buses. Established in 1953, the company is China’s oldest and largest automotive group. Annual sales exceed three million units.