Mumbai, Jan. 21 -- Audi is strengthening its footprint in the Chinese car market by announcing a new cooperationcompany with FAW. The new company will be headquartered in Changchun, where Audi's 30-year-old partnership with FAW in the FAW-Volkswagen joint venture is also located.The new Audi-FAW company will produce fully electric models based on the "Premium PlatformElectric" (PPE) which was co-developed with Porsche. The cooperation company will also be the firsttime Audi will hold a majority stake in China, with Audi AG and Volkswagen group holding a 60-percent stake in the partnership.

At a ceremonial signing event at Changchun and Beijing where the Board of Management of Audi,Volkswagen and FAW were present, Markus Duesmann, Chairma...