FAW Group and Volkswagen Sign MoU for Vehicle and Parts Imports at CIIE 2024
FAW Group and Volkswagen AG signed a memorandum of understanding at the seventh China International Import Expo to import complete vehicles and CKD parts starting in 2025.
- over 3 million units
- 2025
What Happened
FAW Group and Volkswagen AG signed a memorandum of understanding on November 5 at the seventh China International Import Expo in Shanghai. The agreement involves importing complete vehicles and CKD parts, with FAW-Volkswagen beginning imports in 2025.
The signing ceremony was attended by FAW Chairman Qiu Xiandong and Volkswagen China CEO Ralf Brandstätter. The partnership aims to enhance the travel experience for Chinese consumers with a diverse product lineup.
Why this matters
The partnership will bring more Audi vehicles and parts to China, expanding consumer choices and strengthening ties between two major automakers.
Terms in This Story
- MoU
- Memorandum of Understanding, a non-binding agreement outlining the terms and details of a mutual understanding between parties.
- CKD
- Completely Knocked Down, a kit of parts used to assemble a vehicle locally.
- CIIE
- China International Import Expo, an annual trade fair held in Shanghai to promote imports into China.
Summarised from the linked release; details can be imperfect — always verify against the original source.