On February 29th, a reporter from Beijing News Shell Finance learned from Volkswagen that Volkswagen and Xiaopeng Motors have signed a platform and software joint development technology cooperation agreement. The technology cooperation agreement focuses on two Volkswagen brand mid size cars jointly developed by both parties in the initial stage of cooperation, with the first product being an SUV model.
Volkswagen stated that the two electric vehicle models jointly developed by both parties will be equipped with advanced software and hardware, providing Chinese customers with an intuitive and interconnected digital experience and advanced autonomous driving functions. Both sides will fully leverage their core advantages and jointly promote research and development. It is reported that in December 2023, Volkswagen Group completed the acquisition of 4.99% of the total issued and outstanding share capital of Xiaopeng Motors.
In addition, according to the agreement, both parties will purchase shared automotive and platform components through a joint procurement plan, which aims to create cost advantages and make the medium-sized intelligent connected vehicle models jointly developed by both parties more economically competitive; Through joint procurement and the application of innovative technologies in vehicle design and engineering, the product development cycle will be shortened by more than 30%, and both models will be launched in 2026.