GUANGZHOU, Jan. 6 (Xinhua) -- Chinese new-energy vehicle (NEV) maker XPENG and German automobile giant Volkswagen announced Monday that they have signed a Memorandum of Understanding (MoU) for strategic collaboration on a superfast charging network in China.
Through the strategic cooperation, XPENG and Volkswagen Group China aim to provide customers with a superfast charging network featuring over 20,000 charging piles and covering 420 cities across China, according to a statement from XPENG.
By leveraging the technological strengths of both parties in high-power liquid-cooled superfast charging and their complementary coverage in China's EV charging network, customers of both companies could experience an improved fast charging service nationwide, the statement said.
The collaboration will also explore the future possibility of establishing co-branded superfast charging stations in China, aimed at further accelerating the expansion of the charging network and enhancing operational efficiency.
The strategic collaboration represents another stride in the long-term strategic partnership between XPENG and Volkswagen. In 2023, the two companies signed a strategic technical collaboration framework agreement and a share purchase agreement, with Volkswagen acquiring a 4.99-percent stake in XPENG for approximately 700 million U.S. dollars.
In 2024, XPENG delivered 190,068 vehicles, marking a 34-percent increase compared to the previous year. China's total NEV output last year is estimated at over 12 million, according to the China Association of Automobile Manufacturers.
China's NEV sector has seen a growing trend of international cooperation thanks to the market's robust growth. Domestic NEV maker Leapmotor and European automobile giant Stellantis initiated a partnership in 2023, while in 2024, luxury automaker Mercedes-Benz announced an additional investment of 14 billion yuan (about 1.95 billion U.S. dollars) in China along with its Chinese partners. ■