VW signs MOU with SAIC

Beijing

VOLKSWAGEN AG, which manufactures Audi vehicles with China FAW Group Corp, is seeking to add SAIC Motor Corp as its second production partner for the luxury brand after the marque suffered its first sales drop in almost two decades in the world's biggest market.

SAIC and VW signed a memorandum of understanding on Nov 11 in Germany to explore the collaboration, Shanghai-based SAIC said in a statement. The companies have an existing joint venture making VW and Skoda-brand cars.