SAIC-Volkswagen joint venture agreement extended to 2040

On November 27, 2024, Volkswagen Group and SAIC Motor signed a long-term cooperation agreement again to jointly promote the comprehensive development of the intelligent electric field. This cooperation will last until 2040, marking an important moment in the 40th anniversary of the establishment of SAIC Volkswagen. It is expected that by 2030, SAIC Volkswagen will launch 18 new models, 15 of which are designed specifically for the Chinese market. These new cars include 8 pure electric models, 3 plug-in hybrid models and 2 extended-range models.