Representatives from FAW and Changchun government gather at the Changchun venue for the signing of the Audi FAW NEV project on Jan 18. [Photo/cnjiwang.com]

China FAW Group Corporation (FAW), Germany's Audi AG, and the Changchun municipal government signed a tripartite agreement via video conference on Jan 18, affirming that a FAW-Audi new energy vehicle (NEV) project will settle in Changchun, capital of Northeast China's Jilin province.

The project seeks to create a premium platform electric (PPE) high-end pure electric vehicle platform.

The first factory will be built with an investment of more than 30 billion yuan ($4.63 billion), and the first vehicle model will be put into production in Changchun in 2024.

Over the past 30 years, successful cooperation between FAW and Audi has led to the continuous upgrading of Changchun's automobile industry chain.

Since 2020, with FAW as its key enterprise, Changchun has taken the construction of Changchun International Auto City with a trillion-yuan annual output industrial cluster as its development goal, and has been continuously improving its business environment and urban environment.

This project is another major step in the construction of Changchun International Auto City and will drive the development of Changchun's industrial cluster.

It is expected to inject new energy into Changchun, lay a solid foundation for the development of the Changchun auto industry's whole value chain, drive the comprehensive upgrading of Changchun's new energy and intelligent network industries, enhance the attraction of the city, help to attract more high-tech talents, and also promote the development of FAW.