Chinese EV maker XPeng is in talks with Volkswagen and other carmakers about acquiring a factory in Europe as it seeks to expand overseas production, according to Xpeng executive Elvis Cheng. Cheng said the company’s current production line at Magna Steyr’s Austria plant is nearing capacity and that Xpeng is also considering building a new European factory. Volkswagen, which invested $700 million in Xpeng in 2023, is seeking to reduce excess European production capacity as part of a broader rest

Chinese EV maker XPeng is in talks with Volkswagen and other carmakers about acquiring a factory in Europe as it seeks to expand overseas production, according to Xpeng executive Elvis Cheng. Cheng said the company’s current production line at Magna Steyr’s Austria plant is nearing capacity and that Xpeng is also considering building a new European factory. Volkswagen, which invested $700 million in Xpeng in 2023, is seeking to reduce excess European production capacity as part of a broader restructuring plan.