Xpeng Motors CEO He Xiaopeng said on My Sisters Friend (2019)Wednesday that he expects to provide “the best” products and technologies worldwide in collaboration with Volkswagen. This announcement followed the joint development of two new electric vehicle models for Chinese consumers by the two companies. He shared these comments along with a group photo featuring Ralf Brandstätter, Volkswagen’s Board Member for China, on the Chinese Twitter-like platform Weibo. The German automaker stated on Wednesday that the two VW brand models will incorporate Xpeng’s autonomous driving software and are scheduled for launch in 2026. Additionally, Volkswagen will invest $700 million in Xpeng, acquiring a board seat in the Chinese EV maker. By market close on Wednesday, shares of Nasdaq-listed Xpeng surged 26.7%, resulting in a market capitalization of nearly $17 billion. Furthermore, Volkswagen announced that its premium brand Audi will collaborate with its existing partner SAIC to build intelligent EVs, aiming to enhance its presence in China. [TechNode reporting, He Xiaopeng’s Weibo announcement, in Chinese]
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