China Greenlights Audi-FAW’s $3.3 Billion Electric Vehicle Factory

Volkswagen AG’s Audi and Chinese state-owned automaker FAW Group Co. Ltd. have gotten the green light to build an electric vehicle plant in Northeast China, as the German luxury car brand ramps up production of battery-powered cars for the world’s largest auto market.

Construction of the 21 billion yuan ($3.3 billion) plant, which will be based in Jilin province’s capital city of Changchun, is scheduled to begin in April and be completed by December 2024, according to a government document.