Shanghai (ZXZC)- FAW-Volkswagen has signed a memorandum of understanding with Volkswagen China regarding imported automobile and auto parts cooperation at the China International Import Expo 2021.

ID.6 CROZZ; photo credit: Volkswagen

Per the agreement, FAW-Volkswagen, the joint venture between China’s FAW Group and Volkswagen China, will procure CKD parts, Audi imported vehicles for production and sales from Volkswagen China and Audi AG in 2022. 

The memorandum helped strengthen the auto trade between China and Germany, signifying the substantial mutual beneficial achievements of The Belt and Road initiative between the two countries. 

As one of the first passenger vehicle joint ventures in China, FAW-Volkswagen now owns over 30 models under three brands, Volkswagen, Audi and Jetta after 30 years’ development in the country and has become the only joint venture that offers affordable brands, mass-produced brands, and luxury brands at the same time. 

After constant exploring and attempts, FAW-Volkswagen has formed an industry-leading production and management procedure and groomed many talents in the industry. Currently, the company is under the new energy reformation like many other automakers and brought out high-quality green products such as the ID.4 CROZZ, the ID.6 CROZZ, and the Audi e-tron series.

FAW-Volkswagen believes openness and cooperation are the ways to form a healthy and ever-improving auto industry. The automaker plans to keep pushing technology integrations and innovative reformations, leading the synergetic development within the industry chain and strengthening China’s auto industry as a whole.