XPeng Jumps on Technology Collaboration With Volkswagen in China
XPENG(XPEV) Investopedia·2024-07-23 03:01
Key TakeawaysXPeng is partnering with Volkswagen to develop technology for the latter's electric vehicles produced in China.Production is expected to begin on electrical/electronic architecture within two years.Volkswagen invested $700 million for a 4.99% stake in XPeng last year. XPeng (XPEV) American depositary receipts (ADRs) surged on Monday after it said it would co-develop electrical/electronic (E/E) architecture with Volkswagen for the latter's electric vehicles (EVs) produced in China. Under a maste ...