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. The China-specific vehicles will supplement the MEB product portfolio and are to be rolled out in 2026 in China. This step marks the systematic continuation of this plan.
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