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Today, SAIC held a shareholders' meeting, at which Chairman Chen Hong revealed the relevant progress of the SAIC Audi project. Chen Hong said: "for the cooperation project with Audi, we and Volkswagen are also in the process of communicating. SAIC Volkswagen introduces high-end brands to speed up the development of Audi business in China, which is a formal consensus reached between SAIC and Volkswagen. The general direction of the principle of cooperation has not changed, but the specific details of cooperation are still being negotiated, and the specific models have been initially planned.

In June 2018, Audi officially invested in SAIC Volkswagen, laying the foundation for the development and production preparation of the first product. SAIC Volkswagen's shares have also been changed to 50% of SAIC, 38% of German Volkswagen, 10% of Volkswagen China, 1% each of Audi Co., Ltd. and Skoda Motor Co., Ltd.

In March this year, some media received news from the inside that the Audi A7 confirmed that it would be domestic first and would become the first SAIC Audi model to be put into production. The new domestic car would be lengthened and would be named Audi A7L. The official production time of SAIC Audi A7L is August 2020 and is expected to be officially listed at the end of 2020.

The Audi A7 locates medium and large four-door sedan cars based on the latest MLB Evo platform. Since SAIC-Volkswagen already has the same platform, the localization of the Audi A7 is relatively easy. It is expected that the price of the Audi A7L is expected to be less than 500000, and the domestic extension will also break through the length of 5 meters, increasing the interior space in order to adapt to the domestic consumption trend.

In addition, SAIC-Volkswagen's new energy vehicle plant in Anting, Shanghai, is under construction. The project invests 17 billion yuan to introduce the Volkswagen MEB pure electric vehicle platform, which is scheduled to be completed and put into production in 2020, with an annual production capacity of 300000 vehicles. The new energy plant will produce a variety of new energy products, including Audi, Volkswagen and other brands.

Audi earlier announced plans for the Chinese market, saying it is accelerating the development of the domestic market, launching seven local models in the next five years, and plans to double sales in the Chinese market to 1.2 million in six years.

It is worth mentioning that the German Volkswagen Group made a speech at the annual meeting to raise the share ratio of the Chinese joint venture, which aroused the dissatisfaction of the SAIC Group. SAIC also issued a statement saying: SAIC regrets the Volkswagen Group's unilateral statement on major issues of the joint venture in China, and misunderstandings have been cleared up after communication between the two sides.

At the SAIC shareholders' meeting, Chen Hong revealed that SAIC and Volkswagen have reached a consensus on a number of cooperation. Or it means that the current relationship between the two sides is stable, thus speeding up Audi's domestic projects.

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