Volkswagen China is spending lots of time at Xpeng to make new EVs

Published On Aug 27, 2024, 5:11 AM

Volkswagen is collaborating with Chinese electric vehicle startup Xpeng, investing $700 million to develop two new electric cars targeting the Chinese market, with launches expected in 2026. Over 1,000 Volkswagen employees are working closely at Xpeng's facilities to learn and integrate advanced technologies. This partnership aims to enhance both companies' capabilities in the highly competitive electric vehicle landscape, with Xpeng seeking to bolster its global presence.

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Stock Forecasts

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Positive

Xpeng's partnership with Volkswagen and access to its resources may help accelerate its growth trajectory and technological advancements. With notable delivery growth and a push for overseas expansion, Xpeng might see increased investor confidence, potentially driving its stock price higher.

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