A promotional poster for the groundbreaking ceremony for the Audi FAW NEV Company. [Photo provided to gojilin.gov.cn]

The groundbreaking ceremony for Audi FAW NEV Company – a major New Energy Vehicles joint venture between two automobile giants – is set to be held on the night of June 28, according to local media reports.

The new joint venture will be located in Changchun, capital city of Northeast China's Jilin province. It will be Audi's first majority-owned joint venture in China, as well as a key milestone in Audi's electrification strategy in China.

Audi is investing 2.6 billion euros ($2.74 billion) in the project, including the establishment of a new company and a new production site.