XPeng and Volkswagen Team Up in China to Create Super-Fast EV Charging Network

What you need to know

• XPeng will collaborate with Volkswagen to create a charging network for electric vehicles in China.
• Both carmakers plan to install more than 20,000 chargers in cities across the country.
• XPeng Volkswagen plans to explore strategic collaborations.

Volkswagen China and XPeng, a Chinese maker of electric vehicles (EVs), have signed a contract to manufacture super-fast chargers in China.

XPeng stated that the agreement requires the construction of over 20,000 charging stations in 420 different cities. XPeng and Volkswagen will operate them, and they'll be available for use by drivers of cars by both.

The company explained that customers will benefit from the combination of the companies' technological advantages in "high-power liquid-cooled super-fast charging," along with their reach throughout China. 

XPeng added that the deal "will also extend to [the] future possibility of building co-branded super-fast charging stations in China." The two companies plan to further explore their strategic partnership.

XPeng’s American Depositary Recipients (ADRs), which initially increased on news of the acquisition, have only been slightly changed since. The ADRs are down by more than 10 percent over the last year.

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