German Audi AG and Chinese FAW signed an agreement to initiate a joint project for the production of electric vehicles. It was reported on the Audi resource. Therefore, Tesla has a major new competitor.

It is planned that the production of electric cars will begin in 2024 at a car plant in the Changchun, China. The construction of the plant is estimated at over 30 billion yuan ($4.62 billion). Audi has delivered nearly seven million vehicles to the Chinese market to date. The FAW-Audi joint enterprise has sold more than 726,000 vehicles in mainland China in 2020. This is a record for Audi’s 30-year activity in the Chinese market.

Earlier, the Chinese electric vehicle manufacturer Xpeng Motors announced a new autonomous driving feature for electric vehicles. With this, he decided to challenge competitors like Tesla.