In 2023, Volkswagen acquired a 4.99% share in XPeng for around $700 million, aiming to work together on creating two electric vehicles under the Volkswagen name by 2026. Since that time, the two companies have come up with a new framework for smart electric vehicles, which will help the well-known German brand offer competitive options in the Chinese market. Currently, they are also collaborating to establish a fast charging network to benefit EVs from both brands across China.
Joint Charging Network Announcement
A recent report from Reuters mentions that a joint announcement made yesterday stated,
"The companies have signed a memorandum of understanding to open their respective fast-charging networks to each other's customers, which comprise more than 20,000 charging piles across 420 cities in China."
Moreover, it’s noteworthy that Volkswagen and XPeng are looking into the possibility of creating additional co-branded ultra-fast charging stations soon.
Future Collaborations Ahead
Looking ahead, Volkswagen and XPeng are aiming for even more strategic partnerships. However, no further details on their future plans have been shared as of now. Established ten years ago, XPeng produced over 190,000 vehicles last year. By comparison, Volkswagen sold more than 770,000 electric vehicles globally in 2023. After a drop in sales in 2024, this year might be better for the German manufacturer as it expands its presence in China.
A Glimpse into Volkswagen's Legacy
With an impressive 87-year history, Volkswagen has created numerous iconic vehicles. Those curious about the company’s past but short on time can check out The Complete History of Volkswagen: The Moments that Shaped the German Car Brand, available for only $0.99 (Kindle version only).
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