BEIJING – Xpeng (NYSE: XPEV) and Volkswagen have agreed to expand their partnership to cooperate on ultra-fast electric vehicle charging networks in China, the automakers said on Monday.
In a joint statement, the companies said they have signed a memorandum of understanding to open their respective fast-charging networks to each other’s customers, which include more than 20,000 charging piles across 420 cities in China.
They will also explore the joint construction of co-branded ultra-fast charging stations.
Xpeng (NYSE: XPEV) and Volkswagen forged a partnership in 2023 when Volkswagen bought 4.99% of Xpeng for around $700 million with plans to jointly launch two Volkswagen-branded EV models by 2026.
Volkswagen later said it had developed a new architecture for intelligent and electric cars with Xpeng which the German automaker said would help it offer more affordable EVs in its biggest market.
