Volkswagen's China Expansion: Xpeng and SAIC Partnerships Drive EV Line-up Growth

Volkswagen has announced two partnerships in China to strengthen its position in the market. The first partnership is with Xpeng Inc, where they will develop two new VW brand models on the MEB platform, featuring Xpeng software on autonomous driving. Volkswagen will invest $700 million in Xpeng and acquire a 4.99% stake in the company. The second partnership is with SAIC, where Volkswagen's subsidiary Audi will collaborate on jointly developed models and a new platform, although no specific details or timeline were provided.