VW Group Expands In The Chinese EV Market with 5% Stake in XPeng
This strategic collaboration is part of the German automaker’s ambitious efforts to capitalize on the rapid growth of the Chinese e-mobility market. In an unexpected move to strengthen its foothold in China’s electric vehicle landscape, Volkswagen Group has made a significant investment of $700 million, acquiring a 5% stake in the promising EV startup, XPeng. …