✉news BusinessBusiness first seen 13 h ago, last 1 h ago, peak #1
Volkswagen's Xpeng partnership struggles to revive China sales
Original: Volkswagen bet on Xpeng to save its China business. It's not going to plan
Volkswagen partnered with Chinese electric vehicle maker Xpeng in the hope of turning around its struggling business in China, the world's largest car market. According to a Reuters report, the plan is not going well. The collaboration, intended to help the German automaker catch up on software and electric technology, has so far failed to deliver the sales recovery Volkswagen needed against fierce domestic Chinese competition.
Why now: A new Reuters report highlights that Volkswagen's China turnaround strategy with Xpeng is underperforming amid intense competition from local EV makers.
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