Auto Investment

China’s SAIC Motor announced on June 26 that German luxury carmaker Audi had acquired a 1-percent stake in SAIC Volkswagen which was previously held by Volkswagen AG.

SAIC Volkswagen is a joint venture established between Shanghaibased SAIC Motor and German automaker Volkswagen AG in 1984.

Following Audi’s acquisition, 50 percent of SAIC Volkswagen’s equity