Audi, the renowned German car brand, has introduced a new electric vehicle (EV) brand in China, dropping its iconic four-ring logo and using only the name "AUDI" to appeal to younger buyers in the world's largest auto market. In partnership with Chinese automaker SAIC, Audi plans to launch its first car from the new brand by the summer of next year, marking a strategic move to strengthen its presence in China's growing EV sector.
It marks an effort by both Audi and SAIC to win back the Chinese market share, where the legacy local players and foreign automakers have been losing ground to EV- and hybrid-focused rivals. Reuters reported in August that the new brand would not bear the four-ring logo.
Developing cars specifically for the Chinese market will enable foreign automakers to better target a huge customer pool.
Audi unveils new EV brand
The new electric vehicle series uses automotive architecture co-developed with SAIC and Audi says that it will rely more on local suppliers and technologies.
The EV series will aim at attracting the younger drivers who seek high-end technology features such as advanced driver-assistance systems, Fermin Soneira, CEO of the project, told Reuters on the sidelines of an event in Shanghai to unveil the first concept car, a fully electric Sportback.
"The customers (here) are much younger than the rest of the world, 30 and 35 (years old) on average in the premium segment, while the rest of the world is 55," he said.
Reported by Reuters
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