news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

The cooperation between “small” and “big” has made new progress.

July 22,Xpeng Motors-W (09868.HK) announced that it has signed a strategic cooperation and joint development agreement on electronic and electrical architecture technology with Volkswagen. Both parties will devote their full efforts to Volkswagen's production in China.CMP and MEB platformsDevelop electrical and electronic architecture.

An insider of Xiaopeng Motors pointed out that the core content of this announcement is that Volkswagen's global strategic platform MEB platform will also use Xiaopeng's EEA electronic and electrical architecture.

As soon as the news came out, the secondary market responded immediately. As of the close of July 22, Xpeng Motors-W closed at HK$33.65 per share, with a total market value of HK$63.68 billion, up 3.86%. However, compared with a year ago, the stimulating effect of the "big and small hand in hand" trend on the secondary market has been significantly weakened.

Volkswagen's 100-person team has been stationed at Xiaopeng's headquarters

Models equipped with the electronic and electrical architecture jointly developed by both parties will be put into mass production within two years

On April 17, Xpeng Motors and Volkswagen Group signed an EEA electronic and electrical architecture technology strategic cooperation framework agreement. The two parties will jointly develop and integrate Xpeng Motors' latest generation of electronic and electrical architecture into Volkswagen's China.CMP PlatformIt is expected to be applied to Volkswagen brand electric vehicles produced in China from 2026.

On July 22, Xiaopeng Motors recently disclosed that it has signed a strategic cooperation and joint development agreement on electronic and electrical architecture technology with Volkswagen Group (the "Joint Development Agreement"). Both parties will fully invest in Volkswagen's production in China.CMP and MEB platformsDevelop industry-leading electrical and electronic architectures.

Xiaopeng Motors said that the signing of the joint development agreement not only marks that the two parties will accelerate the development of electronic and electrical architecture in China, but alsoExpanding the scope of strategic cooperation between the two parties in electronic and electrical architecture technologyFoundation.

An insider of Xpeng Motors told the reporter of Wancai that the core content of this announcement is that Volkswagen's MEB platform will also use Xpeng's EEA electronic and electrical architecture. It is reported that the MEB platform is Volkswagen's first modular electric vehicle platform developed for mass production and is Volkswagen's global strategic architecture.

It is reported that in this strategic cooperation on electronic and electrical architecture technology, Xiaopeng Motors and Volkswagen Group have established a joint development project team in Guangzhou and Hefei. Engineers from both sides will work closely to accelerate the development process of the electronic and electrical architecture.

Earlier reports said that Volkswagen has sent hundreds of engineers to work at Xpeng Motors' Guangzhou headquarters. The above-mentioned Xpeng Motors insider confirmed this to the reporter of Wancaishe, but said that the Volkswagen team stationed there is about 100 people, and the specific work content is inconvenient to disclose.

The announcement shows that through close technical cooperation between the two parties in the joint development project team, the first model equipped with the electronic and electrical architecture jointly developed by the two parties is expected to be mass-produced in about 24 months.

In addition, according to this joint development agreement, Xpeng Motors and Volkswagen Group will actively explore opportunities for further cooperation to expand the application scope of the electronic and electrical architecture jointly developed by the two parties. The two parties have reached a consensus on promoting strategic cooperation in electronic and electrical architecture and hope to further strengthen their strategic partnership.

"Small" and "big" technology bundles

He Xiaopeng said, “The cooperation on electronic and electrical architecture is the first step in our long-term strategic partnership with Volkswagen Group to be realized within one year.The third important milestone"With the high level of trust between Volkswagen and Xpeng Motors and the close collaboration of engineers from both sides, the development of our joint project has progressed rapidly and significant synergies have been achieved. I very much look forward to expanding the scope of our technical cooperation and deepening our win-win strategic partnership."

Public information shows that the cooperation between Xpeng and Volkswagen began a year ago. On July 27, 2023, Volkswagen Group signed a share purchase agreement for a strategic minority investment in Xpeng Motors, with the goal of leveraging the complementary advantages of both parties to establish a long-term win-win strategic partnership. Based on the vision of strategic cooperation and significant synergies, the two parties also signed a share purchase agreement, and Xpeng Motors will issue approximately 4.99% of Class A common stock to Volkswagen Group at a price of US$15 per ADS(*) after the completion of the transaction, with a total value of approximately US$700 million (approximately RMB 5 billion).

In terms of strategic technology cooperation, Xpeng Motors and Volkswagen Group will jointly develop two B-class electric vehicle models based on their respective core competencies and Xpeng Motors' G9 platform, smart cockpit and advanced driver assistance system software, and sell them in the Chinese market under the Volkswagen brand. The relevant models are expected to start production (i.e. "SOP") in 2026. In addition, the two parties will also explore other potential strategic cooperation in multiple areas, including future cooperation in electric vehicle platforms, software technology and supply chain.

On February 29 this year, Xpeng Motors signed a joint development agreement with Volkswagen Group on strategic technology cooperation in platform and software. In the joint development agreement, Xpeng Motors and Volkswagen signed a joint development agreement on the common parts of both models and platforms.Joint Procurement ProgramBy integrating the scale advantages of both parties and relying on the world-class supply chain capabilities of the Volkswagen Group, the joint procurement plan aims to jointly reduce platform costs, give full play to the synergy of strategic cooperation, and enhance the product competitiveness of the B-class pure electric models jointly developed by both parties.

The third strategic cooperation was on April 17, when Xpeng Motors and Volkswagen Group signed a strategic cooperation framework agreement on EEA electronic and electrical architecture technology. The two parties will jointly develop and integrate Xpeng Motors' latest generation of electronic and electrical architecture into Volkswagen's CMP platform in China, which is expected to be applied to Volkswagen brand electric vehicles produced in China from 2026.

Bared, Managing Director of Volkswagen Group's business in China and Chairman and CEO of Volkswagen Group (China), said that the two sides will contribute their respective technical expertise to jointly develop advanced electronic and electrical architectures. From 2026, all pure electric models launched by the Volkswagen brand in the Chinese market will be equipped with this powerful and efficient electronic and electrical architecture.

The above-mentioned Xpeng Motors insider revealed that Volkswagen examined the technical strengths of many car companies, especially their technical accumulation in intelligent driving, and finally chose to cooperate with Xpeng.

The positive news of cooperation ignites the enthusiasm of the secondary market

But the effect is different from the past

Similar to the scene a year ago, thanks to Volkswagen, Xpeng Motors-W ended two consecutive declines and rose again. After the announcement was released this morning (July 22), Xpeng Motors-W opened high and then quickly fell back, and then fluctuated higher, rising by more than 5% during the session. As of the close of July 22, Xpeng Motors closed at HK$33.65 per share, with a total market value of HK$63.68 billion, up 3.86%.

However, it is worth mentioning that the stimulus effect of "big and small hand in hand" on the secondary market has been significantly weakened. On the first trading day after Volkswagen's investment in Xpeng was disclosed last year, Xpeng Motors-W rose by more than 30%, with the share price approaching HK$90. However, after the disclosure of the progress of the cooperation in February and April this year, the share price only achieved a slight increase of single digits.

In addition, Xiaopeng Motors is currently plagued by the problem of tepid sales. In 2023, Xiaopeng Motors, which has experienced the Waterloo of G9, willXiaopeng G6The launch of the Xpeng G6 slowed down slightly, and finally sold 141,600 new cars in the whole year, a year-on-year increase of 17.3%. However, the support of the Xpeng G6 on sales is obviously limited. After the sales in the third and fourth quarters of last year, it only achieved about 70% of the annual sales target. And since January this year, the sales of the Xpeng G6 have fallen back to the level of thousands of units, and have only rebounded since the second quarter. The latest data in June showed that the Xpeng G6 sold 5,426 units.

MPV launched last yearXiaopeng X9It has now become Xiaopeng's main model. The car began to be delivered in January this year. According to Xiaopeng's official disclosure, as of May 31, a total of 11,456 units have been delivered, ranking first in sales of pure electric MPVs.

However, with a starting price of RMB 350,000 and a limited customer base for its MPV positioning, the Xpeng X9 still cannot boost the sales of the entire brand. According to statistics from the Wancai reporter, without sufficient representative product support, Xpeng Motors delivered a total of 52,028 new cars in the first six months, ranking 8th among new forces, and achieved less than 20% of its annual sales target of 280,000 vehicles.

At present, after experiencing the tempering of time and the market, Wei, Xiao, and Li, which were born in the same era, are no longer the same, and are struggling in different circles.NIO, a firm top spot withAsk the worldIn the stalemate at the top, one has accumulated a lot of experience in the field of battery replacement, andZero Run、Zeekr、Dark BlueIn the fight for the third place, Xiaopeng has gradually withdrawn from the front-line battlefield and is standing still among the new forces.

In order to break the deadlock, Xiaopeng is trying to boost sales by focusing on the MONA product series in the mid-to-low-end market. On June 11, Xiaopeng Motors officially announced the first model of the new product series MONA, the "Xiaopeng M03". He Xiaopeng revealed at the Xiaopeng Motors' third quarter 2023 earnings conference call that the first MONA model will be launched in the third quarter of 2024, positioned as a compact pure electric sedan, and priced at 150,000 yuan.

In addition, He Xiaopeng also said that the sales volume of MONA brand is expected to exceedXiaomi SU7However, compared with the delivery volume of Xiaomi SU7 after its launch, MONA's annual sales target is more than 100,000 units. According to Xiaopeng Motors' recent sales, even if several cars of the same category are added together, it seems that this target cannot be approached. Therefore, the performance and reputation of a new brand after its launch are very important.

Written by: Nandu Wancaishe reporter Chen Jingan and Hu Wenwen