Audi confirmed to acquire equity in SAIC-VW

Shanghai (Gasgoo)- Audi has acquired 1% stake in SAIC-VW, according to Chen Hong, chairman of SAIC Group, who revealed the news on June 25 at SAIC Group's 2017 general shareholders' meeting.

In fact, SAIC-VW underwent equity structure change in June. Audi's acquisition of 1% stake in SAIC-VW means that SAIC-VW now can manufacture models which bear the trademark of SAIC-Audi.

After Audi's participation, now the state quo of SAIC-VW's equity is: SAIC Group holds 50% stakes in SAIC-VW, Volkswagen AG 38%, Volkswagen China 10%, Audi and Skoda hold 1% each.