On February 29th, Xiaopeng Automobile Hong Kong Stock Exchange announced the signing of a strategic technology cooperation joint development agreement and the establishment of a joint procurement plan with Volkswagen Group.
The announcement stated that the signing of the joint development agreement will not only accelerate the joint research and development of two B-class pure electric vehicles, but also lay a solid foundation for broader and deeper strategic cooperation between the two sides.
Xiaopeng Motors Chairman and CEO He Xiaopeng stated that the signing of the joint development agreement marks another significant milestone in our strategic cooperation with Volkswagen Group. The strategic cooperation model between Volkswagen Group and Xiaopeng Motors has no precedent in the automotive industry. The deep consensus on strategic cooperation between the two sides and the strong trust bond created between their R&D teams over the past eight months have laid a solid foundation for the smooth launch of the project.
Volkswagen Group China Director Bered stated that through cooperation with Xiaopeng Motors, we will shorten the product development cycle, improve efficiency, and optimize the cost structure. In a highly price sensitive market environment, this will significantly enhance the economic competitiveness of the product.