Nvidia and Groq Strike Strategic AI Inference Licensing Deal 
Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy 
FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement 
Warner Bros. Discovery Shares Slide Amid Report of Potential Paramount Skydance Lawsuit 
Winter Storm Devin Triggers Massive Flight Cancellations and Travel Disruptions Across the U.S. 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
Oil Prices Edge Higher as Strong U.S. Growth and Supply Risks Support Market 
California DMV Proposes New Safety Rules for Autonomous Vehicles After Waymo Incidents 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
China Industrial Profits Slump Signals Need for More Economic Stimulus 
BP Nears $10 Billion Castrol Stake Sale to Stonepeak 
Brazilian Oil Workers’ Strike Continues as Key Petrobras Union Rejects Proposal 
Gold Price Breaks $4,500 as Safe-Haven Demand and Rate Cut Bets Fuel Rally 
Russian Stocks End Lower as Energy and Mining Shares Weigh on MOEX Index 
DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
Nike Stock Jumps After Apple CEO Tim Cook Buys $2.9M Worth of Shares 
Audi AG, a German automotive manufacturer of luxury vehicles based in Ingolstadt, Bavaria, is said to be in talks with Chinese state-owned automobile manufacturer SAIC Motor Corp. Ltd. They are said to be discussing the potential buyout of the latter’s electric vehicle platform.
According to Reuters, the move was triggered by the decline in sales of Audi's electric vehicle model units. The fall was sharp, and it now lags so far behind the main players in the EV game, such as Tesla. The brand also loses out against local competitors in China, such as Nio.
Audi is a premium car brand operating under Volkswagen AG, and it is now looking to buy SAIC Motor’s EV unit called the IM Motors. While there is not much available information about this deal, some sources revealed that the talks are already in the advanced stage. Then again, the Chinese automaker reportedly declined to comment on this matter.
IM Motors is a maker of premium EVs, and it started delivering its very first model in June of last year. It introduced the L7 sedan while under the control of SAIC Motor and other investors, including the Alibaba Group.
It was added that even if Audi acquires IM Motors from SAIC Motor, it will still be involved in producing its flagship L7 sedan models. The Chinese media has been reporting about the deal between the companies since Tuesday this week, but there is no official confirmation from them yet.
Finally, Car Scoops reported that as Audi seems to struggle in the market, it will try to take over IM Motors via a purchase deal with SAIC Motor Corp. The details of this agreement are still unclear at the moment, so there is no available detail about the deal’s price and terms.
Photo by: Wassim Chouak/Unsplash
