SHANGHAI -- Chinese car manufacturer SAIC Motor said on Sunday that there is a consensus with German carmaker Audi on jointly developing electric vehicles.

"Licensing, joint development, among other initiatives, are all possible ways of cooperation in the future. The Chinese auto market is undergoing unprecedented transformation. We will deepen strategic cooperation to guarantee a win-win situation," said Zu Sijie, vice president and chief engineer of SAIC Motor.

He said SAIC Motor and Audi have been strategic partners, and both sides have reached a consensus to speed up the development of electric vehicles through cooperation.

The Shanghai-based company has announced a three-year plan to boost the annual sales of new-energy vehicles to 3.5 million units by 2025, an increase of 2.5 times compared with 2022.