Fangda represents XPENG with a strategic business transaction with the Volkswagen Group
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Fangda Partners is representing XPENG Inc. (NYSE: XPEV, HKEX: 9868) (“XPENG”) in its announced strategic business transaction with the Volkswagen Group to jointly develop two B-class battery electric vehicles for sale in the Chinese market under the Volkswagen brand, leveraging respective core competencies and XPENG’s G9 platform and Connectivity and ADAS software. The discussion on the detailed terms and conditions of the strategic business collaboration is ongoing.
Underpinned by the vision of the strategic partnership, XPENG and the Volkswagen Group simultaneously entered into a share purchase agreement, pursuant to which the Volkswagen Group has conditionally agreed to subscribe for shares of XPENG representing 4.99% of the total issued and outstanding shares of XPENG for approximately US$700 million.
The Fangda team on this deal was led by partners Norman Zhong and Claudia Yun, and the team members include Joyce Pei, Jason Xu and Kyle Liu. Fangda handled the drafting and negotiation of the transaction documents and provided regulatory advice.
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