Why XPeng Stock Popped 8% This Morning
XPEVXPENG(XPEV) The Motley Fool·2024-03-01 00:13

Shares of Chinese electric car company XPeng (XPEV 7.33%) jumped 8% through 10:25 a.m. ET on Thursday after the company announced it has entered into a "Master Agreement on Strategic Technical Collaboration and Joint Sourcing" with German car giant Volkswagen. The tie-up allies a struggling Chinese electric vehicle (EV) specialist with the world's biggest car company (by sales), and has the potential to boost both companies' fortunes in China and around the world. XPeng + Volkswagen Volkswagen bought a 5% s ...