XPeng, Volkswagen To Develop Two B-class Battery Electric Vehicles

(RTTNews) - XPeng Inc. (XPEV) and Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) have entered into an agreement for joint development of two B-class battery electric vehicles under Volkswagen brand, the companies said in a statement.

As part of the Master Agreement, both companies have also entered into a Joint Sourcing Program for the common parts of vehicles and platform that used by both parties. By sharing the scale of both parties combined and leveraging Volkswagen Group's supply chain, the Joint Sourcing Program will target to jointly reduce the cost of the platform, achieving significant synergies for the strategic partnership and competitiveness of the B-class BEVs being jointly developed.