Audi unveils new EV brand in China without four ring logo

Audi on Thursday unveiled a new electric vehicle brand in China whose cars will sport just the name AUDI and not its signature four-ring logo, a move aimed at attracting younger customers in the world's largest auto market. The premium marque owned by Germany's Volkswagen partnered with Chinese automaker SAIC last year to co-develop cars under the brand, the first of which it plans to put on the market in the summer of next year. It marks an effort by both Audi and SAIC to win back market share in China, where legacy local players and foreign automakers have been losing ground to EV- and hybrid-focused rivals.