Market Insight | XPeng Motors-W rose more than 3% after signing a strategic cooperation agreement with Volkswagen on electronic and electrical architecture technology joint development

XPeng Motors-W rose more than 3%, as of the time of publication, it rose by 3.09% to HKD 33.20, with a turnover of HKD 43.6406 million. On the news front, XPeng Motors-W and Volkswagen Group jointly announced that following the signing of the electronic and electrical architecture technology strategic cooperation framework agreement between XPeng Motors and Volkswagen Group on April 17, 2024, XPeng Motors and Volkswagen Group have signed a joint development agreement for electronic and electrical architecture technology. Both parties will fully invest in developing industry-leading electronic and electrical architectures for Volkswagen's CMP and MEB platforms produced in China. The announcement stated that in the strategic cooperation of electronic and electrical architecture technology, XPeng Motors and Volkswagen Group have established joint development project teams in Guangzhou and Hefei, where engineers from both sides will work closely together to accelerate the development process of electronic and electrical architectures. Through the close technical cooperation of the joint development project teams, the first model equipped with the jointly developed electronic and electrical architecture by both parties is expected to be mass-produced in approximately 24 months