Xpeng Motors and Volkswagen reach a joint procurement plan to reduce platform costs and enhance product competitiveness-It Industry-php.cn

Xpeng Motors and Volkswagen reach a joint procurement plan to reduce platform costs and enhance product competitiveness

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Release： 2024-02-29 20:52:02

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According to news on February 29, Xpeng Motors’ latest announcement on the Hong Kong Stock Exchange announced that it had reached a strategic technical cooperation with Volkswagen Group and signed a joint development agreement and a joint procurement plan. According to the agreement, the two parties will share vehicle models and platform components to jointly reduce platform costs and enhance the product capabilities of the jointly developed B-class pure electric models.

Xpeng Motors and Volkswagen reach a joint procurement plan to reduce platform costs and enhance product competitiveness

Xpeng Motors will cooperate with Volkswagen by providing its advanced platforms and technologies. Under this cooperation model, Volkswagen will undertake engineering research, design and manufacturing. This kind of cooperation will enable both parties to give full play to their respective professional advantages and achieve synergistic effects of strategic cooperation.

Xpeng Motors and Volkswagen reach a joint procurement plan to reduce platform costs and enhance product competitiveness

According to our understanding, at the end of last year, Volkswagen successfully invested in Xpeng Motors, with a total subscription of approximately US$705.6 million, acquiring 4.99% of Xpeng Motors’ shares. This move not only deepens the capital cooperation between the two parties, but also provides important support for Xpeng Motors' technology monetization goals.

Xpeng Motors and Volkswagen reach a joint procurement plan to reduce platform costs and enhance product competitiveness

According to the plan, the two parties will jointly create two B-class SUV models based on the Xpeng G9 platform. These models are expected to start development this year and be launched in Hefei in 2026. put into production. For Xpeng Motors, this cooperation with Volkswagen is undoubtedly an important milestone, marking a solid step in the realization of its technology. At the same time, this will also inject new vitality into the development of China's new energy vehicle market.

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