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Audi showcases"in China for China" strategy with electric vehicles at Auto Shanghai

China

China

China

Audi showcases"in China for China" strategy with electric vehicles at Auto Shanghai

2025-04-25 19:56 Last Updated At:21:07

Audi remains committed to deepening its "in China for China" strategy, focusing on innovation and striving for greater success in its key market, said CEO Gernot Döllner.

At the 21st Shanghai International Automobile Industry Exhibition, Audi unveiled a strong lineup of all-electric vehicles alongside its local partners, reaffirming its long-term commitment to the Chinese market.

"We have always been inspired by our Chinese customers. We have always done development 'in China for China' and we are now bringing it to the next level, with both joint ventures, with SAIC. We for the first time co-developed the car together with strong design. It was quality with chassis technology from Audi and with the Chinese ecosystem that's brought from SAIC to the party. So we really have our Chinese customers in the focus," Döllner said at the event.

In the face of escalating U.S.-China tariff tensions and the European Union's exploration of alternative tariff plans, including minimum price benchmarks for Chinese-made electric vehicles, the Audi CEO reiterated the company's commitment to free trade.

He also expressed confidence in the company's strategy, highlighting its localized operations in China as a key advantage.

"We believe that Free Trade is the right way to handle that. And we are really happy to have a strategy where we are already localized in China. So we see ourselves perfectly set up in the Chinese market. We have a strategy like that also in mind for the U.S.," he said.

Also known as Auto Shanghai, the 10-day event got underway in the eastern China metropolis on Wednesday and is expected to see over 100 new product debuts among the 1,000 participating auto brands, while over 100,000 daily visitors are set to descend on one of the world's largest auto shows.

Audi showcases"in China for China" strategy with electric vehicles at Auto Shanghai

Audi showcases"in China for China" strategy with electric vehicles at Auto Shanghai

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 14 pips to 7.0078 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan weakens to 7.0078 against USD Friday

Chinese yuan weakens to 7.0078 against USD Friday

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