China’s largest automobile production group, SAIC Motor Corporation, has reportedly agreed to expand several new power car (NEV) models in collaboration with the Volkswagen Group, one of its largest joint venture partners.
The two reportedly signed an agreement last week to jointly develop three plug-in hybrid vehicle (PHEV) models and two battery electric vehicle (BEV) models, the first of which will be launched in 2026.
The deal would help Volkswagen’s product diversity in an increasingly competitive local market.
Ralf Brandstaetter, CEO of Volkswagen Group China, said: “We are resolutely pursuing our electrification strategy. In the competitive EV market in China, it is vital that we continue our strategic partnership with SAIC and advance the electrification of SAIC Volkswagen’s portfolio.
In May, SAIC Motor signed an agreement with the VW Group’s subsidiary Audi to collaborate on the creation of an “advanced digitalized platform for Audi brand vehicles. “
SAIC Volkswagen Automotive is one of the most successful foreign automotive joint ventures in China, with sales of 1. 2 million cars bearing the VW and Audi logos last year.
Volkswagen also has a major joint venture with the FAW Group, FAW Automotive, which delivered 1. 9 million cars last year.
“VW will jointly develop NEV with SAIC” originally created and published through Just Auto, a logo owned by GlobalData.
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