BEIJING, July 26 (TiPost)— German automobile giant Volkswagen Group is resorting partnership with Chinese rivals to boost its business in the electric vehicle (EV) sector. Credit：Visual China Chinese EV manufacturer Xpeng Inc. announced on Wednesday it has sealed a framework agreement on strategic technical collaboration with Volkswagen, and the two parties reached a share purchase agreement for strategic minority investment. Under the investment agreement, Volkswagen will spend about US$700 million to acquire Class A ordinary shares at US$15 per American depositary share. When the deal completes, Volkswagen is set to take an about 4.99% stakes in Xpeng and become the third largest shareholder, next to Xpeng’s CEO and cofounder He Xiaopeng and Alibaba Group. Volkswagen has entitled to appo

BEIJING, July 18 (TiPost)— German automobile giant Audi may first take over an electric vehicle (EV) platform from China, making history for the country’s auto industry that has been heavily relied on foreign-developed technology for decades. Credit：Audi Audi is in talks with several Chinese original equipment manufacturers, or OEMs, about acquisition of EV platform technology to reduce development time, Automobilwoche cited source at Audi earlier this month. The German publication said Oliver Blume, CEO of Audi parent Volkswagen Group, has approved Audi’s strategy to seek EV technology overseas. While it didn’t specify Chinese candidates that Audi considered, the news soon triggered speculations of Audi’s possible dealing with multiple automakers such as BYD, Geely, Nio, since China is an