Volkswagen

Xpeng CEO said he looks forward to working with Volkswagen to bring the best technology and products to the world. Volkswagen China CEO said the two share a common vision for the future of mobility.

Through Volkswagen's partnership with Xpeng and Audi's with SAIC, Volkswagen is strengthening its position in the Chinese auto market, the German auto giant said.

Xpeng and Volkswagen will initially co-develop two B-segment BEVs sold under the Volkswagen brand in the Chinese market using Xpeng's G9 platform and ADAS software, with production expected to begin in 2026.

Buying a BEV platform in China could be one of the "big bangs" needed for Volkswagen stock to break out of what can by now only be characterized as being largely ignored by many of the largest asset managers globally, Deutsche Bank said.

SAIC-Volkswagen is offering discounts of up to RMB 42,000 for the ID.3, while FAW-Volkswagen's ID.6 CROZZ is priced at RMB 63,000 less than its website shows.

Volkswagen China and FAW-Volkswagen plan to jointly invest about 800 million yuan in charging station operator CAMS to accelerate the deployment of charging network in China.

There have been no discussions between Volkswagen China and other companies about operating system licensing, local media quoted the German carmaker as saying.

Volkswagen is one of the top-selling car companies in China, but it is lagging behind local carmakers in the country's NEV market.

The purchase order involves LFP Unified Cell products with the same design style and specifications as those for the Chinese market for Volkswagen's full range of NEVs.

The new company, 100%TechCo, is scheduled to be operational in early 2024 and will have more than 2,000 procurement and R&D staff in the future.