XPeng, Volkswagen EV Collaboration: What's Going On?
Portfolio Pulse from Erica Kollmann
XPeng, Inc. (NASDAQ:XPEV) has entered into a strategic partnership with the Volkswagen Group. Volkswagen will purchase 4.99% of XPENG's outstanding shares at $15 per share, totaling approximately $700 million. The companies will jointly develop two B-class battery electric vehicles for sale in China under the Volkswagen brand, leveraging XPeng's G9 platform and Connectivity and ADAS software. Production is expected to commence in 2026.
July 26, 2023 | 3:45 pm
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XPeng's partnership with Volkswagen and the latter's purchase of 4.99% of XPENG's shares could boost investor confidence in XPeng. The joint development of EVs for the Chinese market could also enhance XPeng's market position.
The partnership with Volkswagen, a well-established and globally recognized automaker, could significantly boost XPeng's credibility and investor confidence. Volkswagen's purchase of XPENG's shares further solidifies this partnership. The joint development of EVs for the Chinese market, the world's largest EV market, could enhance XPeng's market position and future revenue potential.
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