SAIC Audi

AUDI E7X starts at 269,800 yuan ($39,850), down 6.9% from its pre-sales price.

The model began pre-sales on May 8, with a starting price of 289,800 yuan, significantly lower than the AUDI team's initial plan.

Audi may redefine the roles of its dual joint ventures in China, with FAW Audi focusing on the four-ring brand and fuel cars, while SAIC Audi concentrates on the AUDI brand.

The AUDI E7X is the second production model of the China-exclusive brand, with pre-sales starting at 289,800 yuan ($42,610).

The production base has an annual production capacity of 360,000 units and will be dedicated to producing AUDI brand models.

The new brand will not use Audi's signature four-ring logo, but will instead use Audi's English name “AUDI” and will also launch a model to rival the Nio ET7, according to local media.

The new EV series, internally codenamed "Purple," will have a concept car unveiled in November, when Audi will explain the series' "brand story," according to Reuters.

SAIC and Audi are combining their resources to jointly develop a series of EV models, with the first product expected to go on sale in 2025.

SAIC Audi's Q5 e-tron has a pricing range that overlaps significantly with the Nio ES6, but the specs look lower.

Audi believes that by 2030, sales of EVs could reach 2 million units in the high-end luxury car market.