Volkswagen Invests Xiaopeng Auto

Volkswagen Invests Xiaopeng Auto

HANGZHOU, CHINA - JULY 27, 2023 - Photo taken on July 27, 2023 shows the logo of Xiaopeng in Hangzhou, East China's Zhejiang Province. On the same day, Xiaopeng Automobile shares soared, rising by more than 30%, and its share price successfully stood above 80 Hong Kong dollars at noon. It is understood that on the evening of July 26, Volkswagen Group announced that it signed A long-term cooperation technical framework agreement with Xopeng Automobile, and Volkswagen Group will increase capital to Xopeng Automobile by about $700 million, and acquire about 4.99% of XOPeng Automobile's equity at a price of $15 per ADS(American Depositary shares, each ADS represents two Class A ordinary shares).

Volkswagen Invests Xiaopeng Auto

Volkswagen Invests Xiaopeng Auto

HANGZHOU, CHINA - JULY 27, 2023 - Photo taken on July 27, 2023 shows the logo of Volkswagen in Hangzhou, East China's Zhejiang Province. On the same day, Xiaopeng Automobile shares soared, rising by more than 30%, and its share price successfully stood above 80 Hong Kong dollars at noon. It is understood that on the evening of July 26, Volkswagen Group announced that it signed A long-term cooperation technical framework agreement with Xopeng Automobile, and Volkswagen Group will increase capital to Xopeng Automobile by about $700 million, and acquire about 4.99% of XOPeng Automobile's equity at a price of $15 per ADS(American Depositary shares, each ADS represents two Class A ordinary shares).

Volkswagen Invests Xiaopeng Auto

Volkswagen Invests Xiaopeng Auto

HANGZHOU, CHINA - JULY 27, 2023 - Photo taken on July 27, 2023 shows the logo of Volkswagen in Hangzhou, East China's Zhejiang Province. On the same day, Xiaopeng Automobile shares soared, rising by more than 30%, and its share price successfully stood above 80 Hong Kong dollars at noon. It is understood that on the evening of July 26, Volkswagen Group announced that it signed A long-term cooperation technical framework agreement with Xopeng Automobile, and Volkswagen Group will increase capital to Xopeng Automobile by about $700 million, and acquire about 4.99% of XOPeng Automobile's equity at a price of $15 per ADS(American Depositary shares, each ADS represents two Class A ordinary shares).

Volkswagen Invests Xiaopeng Auto

Volkswagen Invests Xiaopeng Auto

HANGZHOU, CHINA - JULY 27, 2023 - Citizens walk into a Xopeng auto store in Hangzhou, Zhejiang province, China, July 27, 2023. On the same day, Xiaopeng Automobile shares soared, rising by more than 30%, and its share price successfully stood above 80 Hong Kong dollars at noon. It is understood that on the evening of July 26, Volkswagen Group announced that it signed A long-term cooperation technical framework agreement with Xopeng Automobile, and Volkswagen Group will increase capital to Xopeng Automobile by about $700 million, and acquire about 4.99% of XOPeng Automobile's equity at a price of $15 per ADS(American Depositary shares, each ADS represents two Class A ordinary shares).