The chip maker will provide advanced silicon carbide microchips for Volkswagen to use in next-generation electric vehicles.
German carmaker Volkswagen Group (XETRA:VOW) has expanded its partnership with Chinese EV firm Xpeng Inc (NYSE:XPEV) XPeng, via a new master agreement, secures its technology partnership with VW with the new agreement envisaging the first EV with a new tech architecture to start production in 24 months. Specifically, the tie-up see a collaboration on the development of a electrical/electronic (E/E) architecture for vehicles produced in China, based on Volkswagen's China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform.
Chinese electric vehicle (EV) maker Xpeng said on Monday it has established a project house in partnership with German automaker Volkswagen AG for engineers to accelerate the development process of new architecture for EVs.
Volkswagen plans to invest up to $5 billion in the electric vehicle upstart. The two companies plan to develop electrical architecture and software technology.
It's been a good few days for battery stocks due to the July 11 announcement by QuantumScape (NYSE: QS ) and PowerCo, Volkswagen Group's (OTCMKTS: VWAGY ) battery division. Under the agreement, PowerCo will be able to mass produce solid-state lithium-metal batteries using QuantumScape's planned QSE-5 technology platform.
Volkswagen's CEO discussed free and fair trade, the global economy and technology in meetings with China's industry and commerce ministers on Friday, according to statements by ministries and VW.
Volkswagen's CEO Oliver Blume talked about framework conditions for the use of technologies like AI and autonomous driving as well as the importance of free and fair trade in a meeting on Friday with Chinese government ministers, Volkswagen said.
The European Commission has signalled to Volkswagen and BMW that it may consider lowering tariffs on the two carmakers' imports of China-made EVs, two sources with knowledge of the matter said.
Solid-state battery technology company QuantumScape Co. NYSE: QS stock awakened, jumping nearly 46% on news of a new agreement with PowerCo, a subsidiary of Volkswagen AG (OTCMKTS: VWAGY). QuantumScape received much hype and fanfare in 2021 regarding its solid-state lithium-metal battery technology backed by Volkswagen and Microsoft Co. NASDAQ: MSFT Co-Founder Bill Gates.
Volkswagen (VWAGY) contemplates the closure of an Audi plant in Brussels due to weak demand for the Audi Q8 e-tron.
Volkswagen will massively ramp up production of solid-state batteries developed with U.S. startup QuantumScape , both companies said on Thursday, as the German carmaker aims to bring the technology into more vehicles.
The company has now lowered the forecast for its operating return on sales to a 6.5% to 7% range, from 7% to 7.5% previously. It noted that is also considering the restructuring or potential shutdown of its Audi plant in Brussels on the back of weak demand for the Audi Q8 e-tron line.