Market Chatter: XPeng in Talks with Volkswagen to Buy Factory in Europe

MT Newswires Live05-14

XPeng (HKG:9868) is talking with Volkswagen and other carmakers for the possible purchase of a production facility in Europe, the Financial Times reported Wednesday.

"We are ... discussing with (Volkswagen) to see if there is any possibility we can find a location here in Europe," XPeng's Managing Director for Northeastern Europe, Elvis Cheng, said during the newspaper's Future of the Car summit on Wednesday.

Xpeng's plan comes days after the German carmaker's CEO, Oliver Blume, said Volkswagen could bring its China-developed cars to Europe or even share factory capacity in Europe with Chinese partners, Reuters reported separately.

Volkswagen purchased a 4.99% stake in Xpeng at the end of 2023.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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