Audi In Discussions To Acquire Chinese Automaker SAIC's EV Platform: Report
Portfolio Pulse from Shivani Kumaresan
Audi AG, a subsidiary of Volkswagen AG (OTC:VWAGY), is reportedly in discussions with Chinese state-owned automaker SAIC Motor Corp to acquire an electric vehicle (EV) platform. This move comes as Audi seeks to improve its sales performance in China and capture a larger share of the world's largest auto market. Currently, Audi uses Volkswagen's EV-dedicated MEB platform for models offered in China.
July 12, 2023 | 3:36 pm
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Volkswagen's subsidiary Audi is in talks to acquire an EV platform from SAIC Motor Corp. This could potentially boost Audi's sales in China, which could positively impact Volkswagen's overall performance.
The acquisition of the EV platform from SAIC Motor Corp could potentially enhance Audi's competitiveness in the Chinese market, which is the world's largest auto market. This could lead to increased sales for Audi and, by extension, improved performance for its parent company, Volkswagen. Therefore, this news is likely to have a positive impact on Volkswagen's stock in the short term.
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