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Role reversal? Now WW carmakers want to partner with China Inc.

Posted on - 10 Aug 2023

Category - News & Views

Could Volkswagen’s (ETR:VOW) US$700m investment in Xpeng (NYSE:XPEV) simply be the first of a wave of investments by Western automakers in Chinese EV makers? Many analysts think so. VOW spent US$700m to acquire a 4.99% stake in the Chinese EV maker via a capital increase and gets a board seat along with that. VOW’s EV sales fell in H1/23 despite China’s EV sales rising 20% y/y. With Chinese EV makers being responsible for some of the best-selling and most technically-advanced EVs on the roads, the thinking goes that the Western World OEMs, whose EV businesses are lagging, could look to...

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China EVs OEMs Volkswagen Xpeng