Latest News :2009.05.05

May 5, 2009 (China Knowledge) - Germany-based Audi AG said on Thursday it has officially set up a wholly-owned subsidiary in Beijing, namely Audi (China) Enterprise Management Co Ltd, sources.

The China subsidiary is expected to promote Audi's business in China through cooperation with the Changchun-based joint venture FAW-Volkswagen Automobile Co and to run a test center for infotainment systems in Beijing.

The establishment of the new company in China is another milestone for Audi AG and gives the company greater proximity to its second home market, said Rupert Stadler, Chairman of the Board of Management of Audi AG.

The German automaker sold 120,000 vehicles in China last year and hit a monthly record of 11,848 units in Chinese mainland and Hong Kong in March, representing a year-on-year growth of 7%. Moreover, the company aims to double its sales in the country to 200,000 units by 2015.