Audi, SAIC EV Tie-Up a ‘Coming of Age’ for Chinese Automaking

(Bloomberg) --A move by Volkswagen AG’s Audi division to partner with SAIC Motor Corp. to develop electric vehicles marks a turning point in China’s automotive industry from learning from foreign manufacturers to innovating its own technology.

The 113-year-old German luxury brand said Thursday it reached an agreement with state-owned SAIC in which the two companies will accelerate the electrification of their portfolio as China’s auto market rapidly shifts to EVs.