Volkswagen Group investing $700M in XPENG for 5% stake, VW EV development; Audi jointly developing EVs with SAIC
Green Car Congress
JULY 27, 2023
The Volkswagen Group is strengthening its position on the Chinese automotive market with cooperations between the VW brand and XPENG and between Audi and SAIC. Since the founding of XPENG, we have been developing full-stack technologies from EV platform to connectivity and ADAS software in house.
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