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Audi Reportedly in Talks to Purchase Chinese Automaker SAIC’s EV Platform

Germany’s Audi is in talks with SAIC Motor Corp to buy an electric vehicle platform from the Chinese state-owned automaker, two people familiar with the matter said, an unprecedented effort to shore up market share.

The move, coming as sales of Audi’s EV products fall sharply behind those of Tesla and domestic competitors such as Nio, spotlights the pressure on all legacy and Western brands in the world’s largest auto market, as they battle over EVs.

The premium car brand of Volkswagen AG seeks to take over the EV platform owned by SAIC’s EV unit, IM Motors, said the sources, who sought anonymity as the matter is private. Talks are at an advanced stage, one of them added.

Read the source article at Yahoo Finance

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