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. —Stefan Mecha, CEO VW Brand Region China Audi has signed a strategic memorandum with its Chinese joint venture partner SAIC to further expand existing cooperation.
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