Electric Vehicle | SAIC Volkswagen Joint Venture Agreement Extended to 2040

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Electric Vehicle | SAIC Volkswagen Joint Venture Agreement Extended to 2040

Date：2024-11-28

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Keyword tags： Electric Vehicle SAIC VW

On November 26th, on the occasion of the 40th anniversary of SAIC Volkswagen, SAIC Motor Corporation and Volkswagen Group signed an extension of their joint venture agreement in Shanghai, further strengthening their long-term partnership and extending the joint venture period of SAIC Volkswagen to 2040, marking a new phase 2.0 of joint cooperation in China's automotive industry.

SAIC Volkswagen is the earliest passenger car joint venture in China. In October 1984, the Chinese and German sides officially signed a joint venture contract. This is the second renewal between the two parties, extending the joint venture period to 55 years.

Ralf Brandstätter, Member of the Board of Management of Volkswagen AG for China and CEO of Volkswagen Group (China), said that based on the new cooperation agreement, more R&D resources will be invested into SAIC Volkswagen in the field of emerging technologies, thus more deeply integrating into China's industrial ecosystem and giving full play to local innovation capabilities. “We are accelerating the transformation of SAIC VOLKSWAGEN in line with our 'In China, for China' strategy on all levels, bringing a new generation of electrified vehicles onto the road by 2026, and thus making our partnership economically and technologically future proof.”

Both parties will integrate their respective advantageous resources to support SAIC Volkswagen in developing a variety of new models, including pure electric and plug-in hybrid, based on the Chinese market. By 2030, SAIC Volkswagen will launch 18 new models, 15 of which will be developed exclusively for the Chinese market.

In the field of internal combustion vehicles, SAIC Volkswagen focuses on the intelligentization of fuel vehicles. The "smartest ICE vehicles" Tiguan L Pro and Passat Pro, which were launched this year, have set new sales records in their respective markets this year, and the layout of intelligent fuel vehicles has begun to show results. In early 2025, the comprehensively upgraded product strength of the Teramont Pro will also be refreshed and launched.

In the field of new energy, SAIC Volkswagen's ID. family has broken through the 100,000 mark in cumulative sales in the first 10 months of this year, occupying a leading position in the joint pure electric market. At the same time, SAIC Volkswagen will continue to expand its product offensive, launching new pure electric models, extended-range models, and plug-in hybrid models.

In 2025, the first high-end smart connected electric vehicle model of the AUDI brand will be launched in the middle of the year. Starting in 2026, two compact electric vehicles developed on the CMP platform specifically for the Chinese market will be put into the market for the first time, and three plug-in hybrid models and two extended-range models will also enter the electric mobility market.

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