(JW Insights) Jul 13 -- Chinese carmaker SAIC replied it had nothing to say when asked about the report that German auto giant Audi plans to buy the electric vehicle platform of its EV unit IM Motors(智己汽车), reported Yicai Global.

“SAIC has no major news that should have been disclosed but has not,” the Shanghai-based company told The Paper. “If there is any significant progress, they will be published in line with the regulations of listed companies.”

Germany’s Automobilwoche newspaper reported on July 9 that Audi is in talks with Chinese EV makers to buy an EV platform to save development time and become more competitive in the Chinese market.

Reuters learned on July 13 from sources that Audi is discussing with SAIC about the EV platform, and negotiations are at a relatively advanced stage. Later on the same day, other sources told The Paper that talks also include EV architecture and components, such as batteries, engines, electric controls, lower body, and smart driving system.

SAIC and Audi are already partners. The pair established a joint venture in April 2021 to produce car models, such as the Audi A7L and Q5 e-tron, for the Chinese market. Audi sold 6,631 Q4 e-tron and 1,501 Q5 e-tron in China in the first five months of the year, according to the China Passenger Car Association.

Founded in late 2020, IM Motors is a JV between SAIC, Zhangjiang Hi-Tech Park, and Alibaba Group Holding. SAIC holds 54 percent, and the other two companies own 18 percent each.

IM Motors has launched two models so far, the L7 and LS7. It sold 1,948 LS7 last month but less than 300 L7 so far this year, according to the Yicai Global report.

(Gao J/Yuan XY)