Audi Eyeing on MG's Electric Platform

15 Jul 2023

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Audi Eyeing on MG's Electric Platform

In a recent development, Audi, subsidiary of Volkswagen Group, wants to acquire an electric platform of MG, known as a Chinese state-owned car company. For this purpose, Audi reportedly is in talks with MG’s parent company SAIC Motor Corp. A British news Agency dubbed ‘Reuters’ has considered it a strange sight to be hold calling it an ‘unusual move’ for other carmakers.

Audi's Strategy to Address Declining EV Sales

As Audi faces a decline in electric vehicle (EV) sales compared to Tesla and domestic rivals like Nio, underscores the challenges that prominent brands are experiencing in China, the world’s biggest market for EVs.

Volkswagen Audi Group Seeks to Acquire IM Motors

According to the sources, Volkswagen Audi Group (VAG) is reportedly seeking to acquire IM Motors, SAIC’s electric vehicle (EV) brand. The discussions are said to be progressing, as per one of the sources.

IM Motors: Luxury EV Manufacturer Owned by SAIC and Alibaba

IM Motors, a luxury EV manufacturer jointly owned by SAIC and Alibaba Group, recently commenced deliveries of its L7 sedan in June 2022. While Audi has not officially confirmed these talks, SAIC has chosen not to comment on the matter.

Details of Audi's Offer for MG's EV Platform Remain Undisclosed

Reuters has been unable to ascertain the specific details of Audi’s offer for the EV platform or whether SAIC would continue producing the L7 car. However, several local media reports have hinted at this potential development, as reported by Reuters.

Audi CEO Emphasizes Need to Expedite Model Development

In a recent interview with Reuters, Audi CEO Markus Duesmann, who is set to retire in September, emphasized the need for the company to expedite its model development in order to meet the increasing demand for electric vehicles (EVs), particularly in China.

What do you think about Audi’s strange move? Tell us in the comments section.

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