XPeng Inc. has announced the signing of a Master Agreement with the Volkswagen Group to jointly develop an industry-leading electrical/electronic architecture (E/E Architecture) for vehicles produced locally in China. This agreement, announced on July 22, 2024, builds on a previous framework agreement and will utilize Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform. The collaboration has established Project House in Guangzhou and Hefei, where engineers from both companies will work together to accelerate the development process. The first vehicle with the new E/E Architecture is expected to start production within 24 months. The partnership also opens the possibility for further collaboration and expansion of the E/E Architecture's usage. XPeng's Chairman and CEO, Xiaopeng He, highlighted the rapid progress and synergies realized through the partnership, while Ralf Brandstätter from Volkswagen AG emphasized the project's alignment with Volkswagen's 'in China for China' strategy. Shareholders and potential investors are advised to exercise caution when dealing in the securities of XPeng.

XPeng Inc. has announced the signing of a Master Agreement with the Volkswagen Group to jointly develop an industry-leading electrical/electronic architecture (E/E Architecture) for vehicles produced locally in China. This agreement, announced on July 22, 2024, builds on a previous framework agreement and will utilize Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform. The collaboration has established Project House in Guangzhou and Hefei, where engineers from both companies will work together to accelerate the development process. The first vehicle with the new E/E Architecture is expected to start production within 24 months. The partnership also opens the possibility for further collaboration and expansion of the E/E Architecture's usage. XPeng's Chairman and CEO, Xiaopeng He, highlighted the rapid progress and synergies realized through the partnership, while Ralf Brandstätter from Volkswagen AG emphasized the project's alignment with Volkswagen's 'in China for China' strategy. Shareholders and potential investors are advised to exercise caution when dealing in the securities of XPeng.