March 14, 2019 / 11:43 AM / 7 months ago

Audi says it is considering China joint venture stake increase

FILE PHOTO: An Audi logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy

INGOLSTADT, Germany (Reuters) - Volkswagen’s premium brand Audi is reviewing whether to raise its stake in its Chinese joint venture partner companies, the premium brand’s China chief Alexander Seitz said on Thursday.

“At the end of this year or beginning next year we will know more,” Seitz said about the review.

“We welcome the opening of the Chinese market. Any decision on how to proceed will not be taken only by ourselves - all our stakeholders will be included in the process.”

Audi has two joint ventures in China. One with FAW and another with SAIC Motor Co..

Reporting by Edward Taylor; Editing by Michelle Martin

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