Volkswagen announces strategic agreements with XPeng and SAIC in China
VW will invest about $700 million and acquire a 4.99% stake in XPeng; Audi has signed an MOU with SAIC, VW’s long-time JV partner in China
In order to maintain continuity in rolling out new battery-electric vehicles (BEVs) and consolidate its position in China, Europe’s largest carmaker Volkswagen has made two critical announcements July 26.
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