Shanghai (ZXZC)- At the 3rd China International Import Expo (CIIE), China FAW Group, the Changanchun-based state-owned automaker, signed a memorandum of understanding (MoU) about import business with German auto giant Volkswagen Group.

Under the MoU, their joint venture FAW-Volkswagen (FAW-VW) plans to purchase CKDs (complete knock down kits) from Volkswagen Group and import complete vehicles for Audi brand in 2021, so as to satisfy the manufacturing demands for the increasingly rich product lineups.

(Volkswagen Group, FAW Group signing MoU at the 3rd CIIE; photo credit: FAW Group)

FAW Group said the newly-forged cooperation is particularly invaluable when the global auto industry is being vexed by the coronavirus pandemic. It not only promotes the automobile trades between China and Germany, but also represents a significant achievement in boosting connectivity and drawing on each other's strengths under the Belt and Road Initiative.

FAW Group signed an MoU with Audi to launch a new joint venture to make electric vehicles, the Chinese automaker announced on Oct. 13.

The Volkswagen-owned luxury brand has a long partnership with FAW Group.  

Audi said it would locally produce in China the models based on the Premium Platform Electric (PPE), an EV architecture co-developed with Porsche

The new joint venture would begin manufacturing models in the world's largest auto market in 2024.

The Volkswagen ID.4 fully electric SUV made its China debut on Nov. 3. Based on the automaker's MEB all-electric car platform, the ID.4 comes in two different flavors for Chinese consumers. Built by FAW-VW, the ID.4 CROZZ looks like the ID.4 sold in the rest of the world. Another is called ID.4 X, which is produced by SAIC-VW, Volkswagen Groups' joint venture with SAIC Group.