Volkswagen's China Expansion: Xpeng and SAIC Partnerships Drive EV Line-up Growth
TL;DR
Volkswagen has announced two partnerships in China to strengthen its position in the market. The first partnership is with Xpeng Inc, where they will develop two new VW brand models on the MEB platform, featuring Xpeng software on autonomous driving. Volkswagen will invest $700 million in Xpeng and acquire a 4.99% stake in the company. The second partnership is with SAIC, where Volkswagen's subsidiary Audi will collaborate on jointly developed models and a new platform, although no specific details or timeline were provided.
- Volkswagen to expand China line-up with Xpeng, SAIC partnerships Yahoo Finance
- XPeng's stock soars after Volkswagen invests $700 million, announces cooperation agreements MarketWatch
- Volkswagen Takes $700 Million Xpeng Stake for EV Pact to Win Back China Bloomberg
- Volkswagen buys stake in Xpeng, will jointly develop two new EVs with the Chinese automaker CNBC
- Volkswagen to expand China EV line-up with Xpeng, SAIC partnerships Reuters
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