FAW Group and Audi AG Sign MoU on CKD Parts Import at 2024 CIIE
At the seventh China International Import Expo, FAW Group and Audi AG signed a memorandum of understanding to begin importing CKD parts in 2025 for local vehicle production.
- 2024
- 2025
- 1953
What Happened
At the seventh China International Import Expo in Shanghai on November 5, FAW Group and Audi AG signed a memorandum of understanding for importing CKD parts in 2025. The MoU will enable Audi FAW New Energy Vehicle Co. to import components for local vehicle production and sales. Chairman Qiu Xiandong and Audi CEO Gernot Döllner attended the ceremony.
- Import of CKD parts from Audi AG beginning in 2025
- Complete vehicle production and sales by Audi FAW New Energy Vehicle Co.
- Goal to expand the high-end market with intelligent and green mobility options
Why this matters
The MoU positions Audi FAW to locally assemble vehicles from imported kits, expanding the high-end market in China with a focus on intelligent and green mobility.
Terms in This Story
- CKD (Completely Knocked Down)
- A set of vehicle components shipped separately for local assembly, reducing import duties and enabling local production.
- MoU (Memorandum of Understanding)
- A formal agreement between parties outlining intentions and terms before a final contract.
- CIIE (China International Import Expo)
- An annual trade fair in Shanghai aimed at promoting imports into China.
Summarised from the linked release; details can be imperfect — always verify against the original source.