SAIC Audi aims to sell 50,000 vehicles in 2022

SAIC Audi aims to sell 50,000 vehicles in China in 2022, which marks the first year for the Sino-German joint venture to deliver its products in the world's largest vehicle market.

Jia Mingdi, a senior SAIC Audi executive, unveiled the sales goal on Saturday when the world's largest Audi showroom, which covers around 2,400 square meters, opened in Shanghai.

He said the joint venture will have three models available in the market this year and build a sales network of 120 dealerships across the country.

Besides the A7L sedan it has started to deliver, SAIC Audi will launch the electric Q5 e-tron SUV and a full-size SUV whose name Jia did not reveal later this year.

Jia said the joint venture has received over 2,000 orders and around 70 percent of those who have placed orders are aged below 40.

The Q5 e-tron, which will be produced in Shanghai, will be the first China-produced Audi model based on parent company Volkswagen AG's dedicated electric MEB platform.

Thorsten Godulla, another senior executive at the joint venture, said he is confident in China's market for new energy vehicles which include electric cars and plug-in hybrids.

Godulla said he estimates that around 30 percent of vehicles sold in China will be electrified ones in 2025, and the percentage would be even higher in the premium segment where Audi competes in.

China is Audi's largest market worldwide, with over 700,000 units sold in 2021. The country is expected to play an important role in the company's strategy unveiled last year.

As part of the strategy, the Ingolstadt-headquartered carmaker said its new models from 2026 will be pure electric, and production of combustion engine models will end in around 2033.

It estimates that China's premium vehicle market will grow to 4.5 million sales annually by 2030 from 3.1 million in 2020, and electrified vehicles' share could increase from 10 percent today to as much as 40 percent by the end of the decade.

"As such, it is only logical for Audi to continue expanding its business in China. This includes increasing the supply of electric cars produced locally," said the carmaker in a statement.

SAIC Audi is the German carmaker's second Chinese partner to produce and sell vehicles in the country. Audi is producing sedans and SUVs with China's FAW Group as well.