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Audi confirmed to acquire equity in SAIC-VW

Shirley From Gasgoo| June 26 , 2018

China auto news, Audi  SAIC-VW stake acquisition, SAIC-VW Volkswagen AG Volkswagen China Audi Skoda

Shanghai (Gasgoo)- Audi has acquired 1% stake in SAIC-VW, according to Chen Hong, chairman of SAIC Group, who revealed the news on June 25 at SAIC Group's 2017 general shareholders' meeting.

In fact, SAIC-VW underwent equity structure change in June. Audi's acquisition of 1% stake in SAIC-VW means that SAIC-VW now can manufacture models which bear the trademark of SAIC-Audi.

China auto news, Audi  SAIC-VW stake acquisition, SAIC-VW Volkswagen AG Volkswagen China Audi Skoda

After Audi's participation, now the state quo of SAIC-VW's equity is: SAIC Group holds 50% stakes in SAIC-VW, Volkswagen AG 38%, Volkswagen China 10%, Audi and Skoda hold 1% each.

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