Volkswagen and XPENG on Monday announced plans to open their charging stations to each other, building a super-fast charging network. File Photo by Peter Foley/UPI | License Photo
German automaker Volkswagen and Chinese electric car firm XPENG announced Monday plans to expand new super-fast charging stations across China, opening their networks to each other.
The memorandum of understanding would open more than 20,000 charging points to EVs from both companies across 420 cities around China. They said the two companies will discuss co-branding the stations. Advertisement
Investors appeared interested in the announcement, with XPENG’s stocks closing 3.4% higher in Hong Kong was Volkswagen shares were up 2% in early trading in Europe.
“Combining the technological advantages in high-power liquid-cooled super-fast charging as well as the broad and complementary coverage of will both parties in China, customers of both parties will have the opportunity to enjoy the superior fast charging experience across China,” XPENG said in a statement.
XPENG said the announcement was its “fourth milestone” collaboration with Volkswagen and that they would continue to pursue other ways they can work together technologically to strengthen “the win-win strategic partnership.”
The Chinese company, based in Guangzhou, said it has set up a research and development center in the United States and established branches in multiple locations in Europe. Advertisement
