After announcing their partnership in July, Volkswagen AG (OTC: VWAGY) and XPeng Inc (NYSE: XPEV) revealed on Thursday they expanded their partnership to jointly develop an intelligent connected vehicle models for the Chinese market. The two EVs enhanced with an intuitive and connected digital experience, as well as advanced automated driving functions, should hit the market in 2026. Reuters reported that the first car that Volkswagen and XPeng will develop together will be an SUV.
The Power Of Synergy To Reduce EV Development Time
Through joint procurement program for vehicle and platform parts, along with the use of advanced technologies during the design and engineering phase, Volkswagen and XPeng will reduce the development time of these two EVs by more than 30%.
XPeng is heavily betting on AI to combat rivals.
Earlier this month, XPeng revealed it plans to commit $486.36 ...