Xpeng's $744M Deal with Didi Boosts Chinese EV Market
Chinese electric vehicle company Xpeng is acquiring the smart EV assets of ride-hailing giant Didi for $744 million, forming a strategic partnership to promote the global application of smart electric vehicles and technologies. The Didi assets will become a new sub-brand called "Mona" under Xpeng, scheduled to launch in 2024. This follows Xpeng's recent partnership with Volkswagen and aims to boost Xpeng's brand exposure and customer reach. The partnership could help Xpeng tap into Didi's extensive user base and expand into new international markets. Didi, on the other hand, sheds its smart car business to focus on strengthening its dominance in China's ride-sharing market. The potential for collaboration in the autonomous vehicle realm remains uncertain.
- Tesla’s China rival Xpeng buys ride hailing giant Didi’s smart EV assets for $744M TechCrunch
- Didi Sells Smart Car Arm to China’s Xpeng Bloomberg Television
- Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi CNBC
- China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 mln Reuters
- China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 million By Reuters Investing.com
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