German Audi AG and Chinese FAW have signed an agreement to launch a joint project for the production of electric vehicles, according to the Audi website. Thus, Tesla has a major new competitor.
It is planned that the production of electric cars will begin in 2024 at a car plant in the Chinese city of Changchun. The construction of the plant is estimated at over 30 billion yuan ($ 4.62 billion). Audi has delivered nearly seven million vehicles to the Chinese market to date. The FAW-Audi joint venture has sold more than 726,000 vehicles in mainland China in 2020. This is a record high in 30 years of Audi’s presence in the Chinese market.
Previously, the Chinese electric vehicle manufacturer Xpeng Motors announced a new feature for autonomous driving of electric vehicles. With this, he decided to challenge competitors like Tesla.
The function will allow electric vehicles to automatically change lanes, accelerate or decelerate, as well as overtake cars and enter the highway. The Xpeng P7 sedan, a direct competitor to the Tesla Model 3, began deliveries last June.