Fangda Partners, Freshfields, JunHe and Clifford Chance have counselled on intelligent electric vehicle maker XPeng’s sale of a 4.99% stake to Volkswagen for USD705 million.
After completing the transaction, both automotive brands will jointly develop two Volkswagen-branded B-segment all-electric vehicles.
Fangda’s partners Jeffrey Ding, Norman Zhong and Claudia Yun led the team advising on PRC law for XPeng. Freshfields advised on Hong Kong law, with partners Teresa Ko, Calvin Lai and David Yi leading the team.
JunHe advised on PRC law for Volkswagen, with partners Warren Hua and Wang Kai leading the team. Wang and partner Pan Junlin directly handled the case. Zhang Ke and partner Yuki Chan advised on Hong Kong capital market matters, while partner Shang Shiming counselled on domestic capital market concerns. Partner Yang Chen advised on competition law.
Clifford Chance advised Volkswagen on international law with partners Kelly Gregory and Virginia Lee leading the team. China managing partner Terence Foo, partners Jean Thio, Ling Ho, Bai Yong and Jonathan Zonis supported the team.
In addition, XPeng completed the initial closing of the strategic investment agreement with Chinese ride-hailing giant Didi in November, with Fangda and Sullivan & Cromwell acting as legal consultants.
Currently, XPeng has sold the initial consideration shares of 3.25% of its total share capital to Didi, acquiring its auto development business. The two parties will jointly launch the A-segment intelligent electric vehicle brand Mona.
