Audi is Romance Archivesin discussions over a partnership with IM Motors, the premium electric vehicle unit of Chinese automaker SAIC, to develop its future models on the latter’s vehicle architecture, Reuters reported on Wednesday, citing people familiar with the matter. It is unknown whether the deal will be an acquisition or licensing transaction. The likely move is seen as being more in line with Audi’s brand image than mooted tie-ups with other Chinese EV brands given the RMB 200,000-500,000 ($27,893-$69,733) price range where IM Motors is positioned, Chinese media Mingjing Pro reported. The Shanghai-listed automaker responded by saying it has no significant matters that “should be disclosed but have not been disclosed.” Set up by state-owned SAIC in late 2020 in partnership with tech giant Alibaba, IM Motors has two crossovers on sale and monthly delivery reached 2,007 units in June. [Reuters]
