BEIJING: Volkswagen AG and its Chinese joint venture partner SAIC Motor plan to invest 4.13 billion yuan to revamp their car plants in Shanghai to make new Audi sedans, according to a government document.
With the revamp at its Shanghai plants, the JV is aiming for an annual manufacturing capacity of 60,000 Audi A7L sedans and 60,000 new Volkswagen sport-utility vehicles. The total capacity at the plants will remain unchanged. SAIC chairman Chen Hong has previously said the JV plans to roll out the first Audi product in early 2022.
Volkswagen hopes to start production based on its MEB platform in Shanghai from the fourth quarter and has sought government approval for production of its electric ID.4 vehicles.
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