Xpeng, often known as China’s Tesla, is in talks with Volkswagen and other carmakers about buying a factory in Europe as it looks to expand international sales.
“We are . . . discussing with [Volkswagen] to see if there is any possibility we can find a location here in Europe,” Elvis Cheng, Xpeng’s managing director of northeastern Europe, told the FT’s Future of the Car summit on Wednesday. VW did not immediately respond to a request for comment.
The German carmaker in 2023 invested $700mn for a 5 per cent stake in Xpeng in a deal that also involves the co-development of electric vehicles in China.
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