Audi acquires 1 pct stake in SAIC Volkswagen

Source: Xinhua | 2018-06-27

China's SAIC Motor announced Tuesday that German luxury carmaker Audi has acquired a 1-percent stake in SAIC Volkswagen which was previously held by Volkswagen AG.

SAIC Volkswagen is a joint venture established between Shanghai-based SAIC Motor and German automaker Volkswagen AG in 1984.

After Audi's acquisition, the status quo of SAIC Volkswagen's equity is: SAIC Motor holds a 50-percent stake, Volkswagen AG 38 percent, Volkswagen China 10 percent, Audi and Skoda 1 percent each.

According to SAIC Motor, the equity structure change, which happened in June, means that Audi models can now be manufactured in the joint venture.