Volkswagen's Audi in talks with China's SAIC Motor on tie-up

November 14, 2016 1:49 AM EST

The logo of Audi is seen during the opening of a new plant in San Jose Chiapa, in Puebla state, Mexico, September 30, 2016. REUTERS/Imelda Medina

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BEIJING (Reuters) - Volkswagen's Audi premium brand is in talks with China's largest automaker, SAIC Motor, on a potential long-term collaboration, Audi said in a statement on Monday.

Reuters reported on Saturday, citing a source familiar with the matter, that the two had signed an agreement that could pave the way for Volkswagen's joint venture with SAIC to make Audi brand cars.

Audi cars are now only made in China through a joint venture with China FAW Group Corp.

(Reporting by Jake Spring; Editing by Clarence Fernandez)

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