05:23 AM EDT, 07/22/2024 (MT Newswires) -- XPeng ( XPEV ) and Volkswagen Group said Monday that they signed a master agreement for their previously announced technical collaboration on electrical/electronic architecture for locally produced vehicles based on Volkswagen's China main platform and modular electric drive matrix platform.

Ralf Brandstatter, a Volkswagen official in China, said all Volkswagen electric vehicles in the country will be equipped with the collaboration's electrical/electronic architecture from 2026.

As part of the collaboration, the companies said they established project houses in Guangzhou and Hefei to accelerate the development process and achieve start of production within 24 months. The company said they also agreed to actively explore further collaboration opportunities to expand the use of their architecture.

No financial details were disclosed.

Price: 8.46, Change: +0.01, Percent Change: +0.12