Stock Track | XPeng Surges as Volkswagen Partnership Accelerates EV Architecture Development

Stock Track07-22

Shares of Chinese electric vehicle maker XPeng Inc. (NYSE: XPEV) soared on Monday, surging as much as 6.57% in intraday trading, following the announcement of a strategic partnership with German automotive giant Volkswagen AG (OTC: VWAGY) to jointly develop cutting-edge electric vehicle architecture.

The two companies have established project houses in Guangzhou and Hefei, where engineers from both parties will work closely to accelerate the development process of a new electrical/electronic (E/E) architecture for vehicles produced in China. The collaboration aims to commence production of the first vehicle equipped with the jointly developed E/E architecture within approximately 24 months.

According to Ralf Brandstätter, a member of Volkswagen's board of management for China, from 2026 onwards, all electric vehicles of the Volkswagen brand in China will be equipped with this "very powerful and efficient architecture" resulting from the partnership.

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