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China's Xpeng to take over Didi's autonomus vehicle unit, eyeing 2024 launch

HONG KONG (Reuters) -Chinese electric car company Xpeng said it will acquire ride-hailing giant Didi's smart electric vehicle unit and the two companies will form a strategic partnership. As part of the deal, which could be worth as much as $744 million, Xpeng will launch an A-class model next year under a new brand, currently called MONA, aiming to expand in the mass-market segment. "Project 'MONA' will accelerate the Company's production and sales growth and help achieve greater economies of scale," Xpeng said in a statement. ....

Kim Coghill , Strategic Partnership , Electric Car Company ,

EV Stock News: XPENG (NYSE: XPRV) to Expand in A-class Smart EV Segment through Strategic Partnership with DiDi

EV Stock News: XPENG (NYSE: XPRV) to Expand in A-class Smart EV Segment through Strategic Partnership with DiDi ....

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China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 million

HONG KONG (Reuters) -Chinese electric car company Xpeng said it will acquire ride-hailing giant Didi's smart electric vehicle (EV) unit in a deal worth as much as $744 million and the two companies will form a strategic partnership. As part of the deal, Xpeng will launch an A-class model next year under a new brand, currently called MONA, aiming to expand in the mass-market segment with the car to be priced in the $20,000 price tier. "Project 'MONA' will accelerate the Company's production and s ....

Edwina Gibbs , Deal Worth , Strategic Partnership , V Industry , Electric Car Company ,

Chinese ride-hailing firm Didi Global sells its EV unit to Xpeng as the two plan to launch a mass-market brand in 2024

Chinese ride-hailing firm Didi Global has agreed to sell its electric vehicle (EV) arm to EV maker Xpeng in exchange for shares worth HK$5.84 billion (US$744 million), exiting a once promising business that is now crowded with 200-odd players. Guangzhou-based Xpeng will issue the shares at HK$64.03 apiece to pay for the asset, according to their exchange filings on Monday. Beijing-based Didi, which was slapped with an 8 billion yuan (US$1.1 billion) fine for data violations, will own 3.25 per ce ....

Cheng Wei , Hong Kong , Volkswagen Group , China Morning Post Publishers Ltd , Cyberspace Administration Of China , Didi Global , Hang Seng Index , New York , Cyberspace Administration , Shanghai Based Nio , Beijing Headquartered Li Auto , Navigation Guided Pilot , Full Self Driving , South China Morning Post , China Morning Post Publishers , Bullish Market ,

XPeng inks $744M deal with ride-share giant Didi, linking two of China's biggest tech names

Chinese electric vehicle maker XPeng signed a development deal with mobility and ride-sharing giant Didi. ....

Da Vinci Auto Co , A Class Smart , Hong Kong Based , Development Deal , Smart Ev , Peng Electric Car , Strategic Partnership ,