XPeng in talks to buy a Volkswagen plant in Europe as exports surge 62%

XPeng (XPEV) is in talks with Volkswagen about acquiring a factory in Europe as the Chinese EV maker’s contract production in Austria runs out of capacity. The company’s exports hit a record 6,006 vehicles in April, up 62% year-over-year. The move comes just one day after BYD revealed it is also pursuing European factory deals with Stellantis and other automakers, signaling a broader wave of Chinese automakers moving to localize production on the continent. more…