XPeng (XPEV) and Volkswagen Group (VWAGY) Enter Framework Agreement on Technical Collaboration; VW to Takes $700M Minority Stake in XPEV

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Go back to XPeng (XPEV) and Volkswagen Group (VWAGY) Enter Framework Agreement on Technical Collaboration; VW to Takes $700M Minority Stake in XPEV

XPENG and the Volkswagen Group Announce Entry into Framework Agreement on Strategic Technical Collaboration and Strategic Minority Investment by the Volkswagen Group in XPENG

July 26, 2023 9:15 AM EDT

XPENG and the Volkswagen Group entered into long-term strategic partnership XPENG and the Volkswagen Group will jointly develop two B-class BEVs under Volkswagen brand leveraging the strength of each other XPENG will issue Class A ordinary shares about 4.99% of its outstanding share capital to the Volkswagen Group at US$15 per ADS for approximately US$700 million The strategic partnership also empowers both parties to explore long-term collaboration opportunities in future EV platforms, supply chain, next-generation Smart EV technologies, among others

GUANGZHOU, China--(BUSINESS... More