Audi China to add 150,000 cars to yearly output

Audi (NSU.DAX) will increase its China output to 700,000 cars thanks to a new factory it is building in Guangdong province, Bloomberg reported. Audi, a subsidiary of Volkswagen (VOW.DAX), along with its joint venture partner FAW Group (000800.SZ) will build a new plant in Foshan that will produce 150,000 to 200,000 cars by 2013. The factory will make a new model in Audi’s A3 line of compact cars. “We want to clearly expand our presence in China and further strengthen our strategic partnership,” Audi CEO Rupert Stadler said. “The new factory is a milestone in our long-term growth strategy in China.” The Foshan plant’s output will be added to about 550,000 cars produced in a factory in Changchun, Jilin province. Audi sales in China rose 32% from January to October compared to the same period last year.