Volkswagen invests $700m in Xpeng and will partner on tech and platform, while Audi expands partnership with SAIC and will produce vehicles on one of its platforms.
The Volkswagen Group, including the VW brand and Audi, has entered into strategic partnerships with two prominent Chinese EV automakers – Xpeng and SAIC, making further inroads into the Chinese EV market with new technology and manufacturing capabilities. The agreements are expected to help the group get new EVs faster into production to meet local customer needs, and address falling market share in China.
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