Published: July 27th, 2023,
Last updated: July 27th, 2023
Wednesday brought a major shake-up in the automotive community: Volkswagen has acquired a stake in the Chinese EV startup Xpeng. Both partners are planning to jointly develop new electric models. It is well known that VW and other German automakers are lagging behind in China’s electric segment. Now, it seems that the Wolfsburg-based company aims to catch up with the help of its Chinese competitors, as Felix Lee analyzes. Even premium subsidiary Audi is set to form a closer alliance with the Chinese joint venture partner SAIC.