As the companies announced on Monday, they have signed a memorandum of understanding to open their respective fast-charging networks in China to each other's customers. This includes more than 20,000 charging points in 420 Chinese cities. In addition, the joint construction of new ultra-fast charging stations is planned. The cooperation builds on a partnership concluded in 2023, in the context of which Volkswagen acquired a 4.99 percent stake in Xpeng for around 700 million dollars. The aim is to jointly launch two electric models from Volkswagen by 2026.
(Report by Joe Cash and Brenda Go, written by Katharina Loesche. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and business) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)