Audi to Establish Two New Companies With Chinese JV Partner FAW

03/07/18 05:38 AM EST
   By Max Bernhard 

Audi AG (NSU.XE) said Wednesday that it has agreed with its Chinese joint-venture partner FAW Group to create two new companies for sales and digital services.

Volkswagen AG's (VOW.XE) luxury car maker Audi said a new distribution company will be a fully owned subsidiary of the FAW-Volkswagen joint venture. Audi's present sales division within FAW-Volkswagen will be integrated into the new company, Audi said.

Audi and FAW will set up a second company for mobility and digital services, which will take over Audi's "on demand+" service, which was launched in Beijing last September.

Both new companies are expected to start operations at the end of 2018, Audi said.


Write to Max Bernhard at; @mxbernhard


(END) Dow Jones Newswires

March 07, 2018 05:38 ET (10:38 GMT)

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