Volkswagen hasn't been faring well in the world's largest car market, but a new partnership could be the key to turning it all around.

Volkswagen’s Chinese joint venture SAIC-Volkswagen launched a new promotion on Wednesday for its fully electric SUV. The ID.4 X is now available starting at just 139,900 yuan, or roughly $19,300.

The state-owned automaker hopes to cut 30% of employees at SAIC-GM, 10% at SAIC Volkswagen and more than half at its Rising Auto EV subsidiary, the people said. advertisement ...

In addition, VW will extend its partnership with SAIC Group for another 10 years to 2040, with SAIC VOLKSWAGEN aiming to release 18 new vehicles by 2030, including two extended-range models by 2026.