SHANGHAI, Nov 7 (Reuters) - 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. Reuters reported in August that the new brand would not

bear the four ring logo.

Developing cars specifically for China allows foreign

automakers to better target a huge customer pool.

The new EV series uses automotive architecture co-developed

with SAIC, and Audi says it will rely more on local suppliers

and technologies.

The EV series aims to attract younger drivers who seek

high-end technology features such as advanced driver-assistance

systems, Fermin Soneira, CEO of the project, told Reuters on the

sidelines of an event in Shanghai to unveil the first concept

car, a fully electric sportback.

"The customers (here) are much younger than the rest of the

world, 30 and 35 (years old) on average in the premium segment,

while the rest of the world is 55," he said.

Besides the sportback, the partnership plans to introduce

two more cars, including a sport-utility vehicle, within the

next three years.

Audi sold fewer than 15,000 EVs in China in the first nine

months of 2024, according to data from the China Association of

Automobile Manufacturers. In comparison, Chinese premium EV

brands Nio and Xpeng ( XPEV ) sold roughly ten and seven times more,

respectively.

Audi's EVs currently sold in China have the

four-interlocking ring logo. These are the Q4 e-tron made with

joint venture partner FAW, the Q5 e-tron SUV made with SAIC, and

the Q6 e-tron made with FAW, which will be launched later this

year.