Volkswagon, tried to re-invent the car when the I.D family was born. Instead of sticking to its classy interior’s of previous generations of ICE, the company instead of creating something great, created what has become equivilent of marmite across the world stage, especially the european one.
This year Volkswagon invested $700 million in Xpeng and purchase a 4.99% stake in the company. It’s partnering with Chinese EV startup Xpeng and joint venture partner SAIC to build new models and potentially co-create platforms, as it attempts to use local expertise to protect market share. Volkswagen’s partnership with Xpeng, will produce two models targeting the middle-class segment which will carry the VW logo but feature Xpeng know-how on software and autonomous driving, a win for the EV startup that is less than a decade old.
Volkswagon. has come under increasing investor pressure over its China presence, both in terms of boosting EV sales and ensuring its slate is clean on labour rights issues in the Xinjiang region where it co-owns a plant with SAIC.
Equally, europes reliance on Chinese battery cells for the european market mainstays , will only end in disaster. Unfortunately China holds some 7o% of the works REE and the recent blow to Northvolt, who are seeking a rescue pack, will only compound matters.
As mentioned above EUrope have embarked on a trade war with China, one I doub’t it will win and its allready affecting industry away from europes motor indudtry. I read this week France is up in arms, as its started to affect their Brandy industry. Certainly something to watch unfold.