XPENG and the Volkswagen Group Announce Entry into Framework Agreement on Strategic Technical Collaboration and Strategic Minority Investment by the Volkswagen Group in XPENG
XPENG Inc. (“XPENG,” NYSE: XPEV and HKEX: 9868.HK), a leading Chinese smart EV company and the Volkswagen Group, one of the world’s leading automobile manufacturers, are pleased to announce today that XPENG and the Volkswagen Group have entered into a framework agreement on strategic technical collaboration and a share purchase agreement for strategic minority investment by the Volkswagen Group in XPENG.
- XPENG Inc. (“XPENG,” NYSE: XPEV and HKEX: 9868.HK), a leading Chinese smart EV company and the Volkswagen Group, one of the world’s leading automobile manufacturers, are pleased to announce today that XPENG and the Volkswagen Group have entered into a framework agreement on strategic technical collaboration and a share purchase agreement for strategic minority investment by the Volkswagen Group in XPENG.
- The objective of the strategic technical collaboration is to leverage each other’s complementary strengths and forge a long term win-win strategic partnership.
- The discussion on the Strategic Technical Collaboration is ongoing and is subject to the positive outcome of a project feasibility study.
- “The Volkswagen Group and XPENG each brings in highly complementary strengths into this long-term strategic partnership.