What's Happening?
Xpeng Motors has announced a collaboration with Magna Steyr's facility in Graz, Austria, to begin localized production in Europe. The partnership will utilize existing production lines to manufacture Xpeng's G6 and G9 models, with production set to start in the third quarter of 2025. This marks Xpeng's first European localized production project, with plans to expand to additional models in the future.
Why It's Important?
Xpeng's move to localize production in Europe represents a strategic expansion into the European market, potentially increasing its competitiveness against established automotive brands. This collaboration with Magna Steyr could enhance Xpeng's manufacturing capabilities and market presence, influencing the electric vehicle industry's dynamics and consumer choices in Europe.
