Volkswagen and Xpeng Strengthen Partnership with Ultra-Fast EV Charging Network

Investing.com -- Volkswagen is preparing to strengthen its partnership with Chinese electric vehicle (EV) manufacturer Xpeng (NYSE:XPEV). The two companies announced on Monday that they plan to expand their cooperation to establish an ultra-fast charging network for electric vehicles. The plan includes opening up existing Chinese networks to each other's customers and currently encompasses around 20,000 charging systems spread across 420 cities in China. They are also evaluating the joint development of new co-branded charging stations.

This move marks a continuation of the relationship between Volkswagen and Xpeng, which began when the German automaker purchased approximately 5% of the Chinese company for $700 million in 2023. The initial plans for the partnership included jointly launching two Volkswagen-branded EVs in China by 2026.

In addition to these plans, Volkswagen has collaborated with Xpeng to create a new architecture for smart and electric vehicles. This development is expected to enable Volkswagen to offer more affordable EVs in its largest market, China.