In an effort to appeal to younger consumers in the biggest auto market in the world, Audi introduced a new electric vehicle brand in China. The cars will only have the name AUDI on them rather than the company’s iconic four-ring emblem.
Last year, the luxury brand owned by German carmaker Volkswagen (VOWG_p.DE) teamed up with Chinese automaker SAIC to jointly develop vehicles under the brand. The first of these vehicles is expected to hit the market in the summer of next year.
Both Audi and SAIC are making an attempt to regain market share in China, where foreign automakers and established local manufacturers have been falling behind EV and hybrid-focused competitors. In August, Reuters claimed that the four-ring logo would not be used by the new brand. Foreign automakers can more effectively target a sizable customer base by creating automobiles especially for China.
Audi claims it would depend increasingly on local suppliers and technologies, and the new EV series incorporates vehicle architecture that was co-developed with SAIC.
Fermin Soneira, the project’s CEO, told Reuters that the EV series wants to attract younger drivers who demand high-end technology features like advanced driver-assistance systems. “The customers (here) are much younger than the rest of the world, 30 and 35 (years old) on average in the premium segment, while the rest of the world is 55,” he stated.
The China Association of Automobile Manufacturers reports that in the first nine months of 2024, Audi sold less than 15,000 EVs in China. Chinese luxury EV companies Nio and Xpeng, in contrast, sold about ten and seven times as many units, respectively.
The four-interlocking ring logo is used on Audi EVs that are presently offered for sale in China. These are the Q5 e-tron SUV with SAIC, the Q4 e-tron with joint venture partner FAW, and the Q6 e-tron with FAW, which will go on sale later this year.
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