Volkswagen and Xpeng will collaborate to create a vast super-fast charging network in China, opening their respective networks to each other's customers. The partnership will see more than 20,000 charging points across 420 cities.
Volkswagen and Xpeng will open their respective super-fast charging network s to each others' customer in China as part of a memorandum of understanding. The two firms will explore cooperation on co-branded super-fast charging stations, the companies said. The German automaker has ramped up its focus on China via an investment in Xpeng and an aggressive electric vehicle launch schedule.
both rose on Monday after the two firms announced plans to expand their partnership in electric vehicle charging stations in China.The German automaker and Chinese electric car firm signed a memorandum of understanding in which they pledged to open their respective super-fast charging networks to each others' customers. The collaboration will see more than 20,000 charging points operated by both firms in 420 cities across China. Xpeng's Hong Kong-listed shares closed 3.4% higher on Monday. Volkswagen was up 2% in early trade in Europe.'Through our strategic collaboration with XPENG, we will form one of the largest Super Fast Charging Networks in China enabling people to seamlessly integrate e-mobility into their daily lives not only in the metropolises but also in remote cities,' said Olaf Korzinovski, executive vice president of Volkswagen Group China. Charging points are becoming a key battleground in the electric vehicle space because they provide the necessary infrastructure that allows people to drive further in battery-powered cars if they need to recharge. Volkswagen invested around $700 million in Xpeng , taking a 4.99% stake in the firm. The German automaker is aiming to offer at least 30 fully electric models across its brands in China by 2030
Volkswagen Xpeng Electric Vehicles Charging Network China
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