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Anan Ashraf

European Automakers Forge Partnerships In China To Drive EV Dominance

China Volkswagen Audi SAIC Xpeng NIO electric vehicle Mercedes NYSE

Photo showing the logo of Volkswagen in Hangzhou, East China's Zhejiang Province on July 27, 2023. Volkswagen reported soaring delivery growth across all regions except China in the first half of 2023, pushing it to revamp its strategy and ignite fresh alliances. CFOTO/FUTURE PUBLISHING VIA GETTY IMAGES.

In a bid to seize a bigger slice of the world’s largest auto market, European automakers are shifting gears and teaming up with Chinese counterparts to drive innovation and electric vehicle (EV) dominance.

“What Happened: On Wednesday, German automaker Volkswagen AG (OTC: VWAGY)announced a partnership with Chinese EV startup XPeng (NYSE:XPEV) while Audi, its premium subsidiary, plans to join forces with SAIC,” said Benzinga.

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