In China, a super-fast charging network for electric vehicles (EVs) will be constructed by Volkswagen and Xpeng.

• Volkswagen and Xpeng will allow their customers to access each other's super-fast charging networks in China through a memorandum of understanding.
• The two companies will collaborate on co-branded high-speed charging stations, as stated.
• The German automaker has intensified its focus on China by investing in Xpeng and launching electric vehicles aggressively.

On Monday, shares of both companies increased after they revealed plans to expand their collaboration in electric vehicle charging stations in China.

The German automaker and Chinese electric car firm agreed to open their respective super-fast charging networks to each other's customers. The collaboration will result in more than 20,000 charging points being operated by both firms in 420 cities across China.

On Monday, Xpeng's Hong Kong-listed shares ended with a 3.4% increase, while Volkswagen was up 2% in early trade in Europe.

The companies announced plans to collaborate on co-branded high-speed charging stations.

Volkswagen Group China will collaborate with XPENG to create a large Super Fast Charging Network in China, allowing people to easily incorporate e-mobility into their daily lives in both metropolitan and remote areas, as stated by Olaf Korzinovski, executive vice president of Volkswagen Group China.

The expansion of Tesla's Supercharger network in China has made charging points a crucial factor in the electric vehicle market, as they enable longer travel distances with battery-powered cars.

By 2030, Volkswagen aims to provide at least 30 fully electric models in China, having invested $700 million in Xpeng in 2023 and taking a 4.99% stake in the company.

In addition to Xpeng and Volkswagen, plans are being made to collaborate on the development of two electric vehicles for delivery in China by 2026.