The Volkswagen Group is strengthening its position on the Chinese automotive market with cooperations between the VW brand and XPENG and between Audi and SAIC. The Group is thus forging ahead with its local electrification strategy. The aim is to swiftly tap into new customer and market segments, thereby systematically leveraging the potential of China's dynamically growing e-mobility market. In addition, the Volkswagen Group is investing approximately USD 700 million in XPENG via way of capital increase and will ultimately hold about 4.99 percent of the shares.
Please see Volkswagen AG's press release for more information: More e-models for fast-growing e-mobility market in China: VW brand and Audi agree strategic cooperations with local automakers | Volkswagen Newsroom (volkswagen-newsroom.com)
The following team of Gleiss Lutz lawyers advised the supervisory board of Volkswagen AG: Prof. Michael Arnold (partner), Dr. Adrian Bingel (both lead, partner), Dr. Markus Martin (counsel), Dr. Moritz Rudzio (counsel), Dr. Jan-David Geiger (all Stuttgart), Dr. Nico Holtkamp (Hamburg), Oliver Wolf, Dr. Nikolai Unmuth, Aaron Waible, Hannah Walter, Nicholas Brand (all Corporate, all Stuttgart), Dr. Marc Ruttloff (partner, ESG/Public Business Law) Dr. Stefan Weidert (partner, Berlin), Dr. Herwig Lux (counsel), Christian Eulenpesch (all Intellectual Property, both Stuttgart), Matthias Hahn (Foreign Trade, Düsseldorf), Florian Schuler (Dispute Resolution, Stuttgart).
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