BEIJING – Volkswagen is in talks with Chinese language electrical automobile startup Zhejiang Leapmotor Expertise about the potential for cooperation for Volkswagen’s Jetta model, a Chinese language media outlet reported on Wednesday, citing sources.
A three way partnership between VW and state-owned Chinese language automaker FAW Group might “purchase” a platform of EV applied sciences from Leapmotor, in accordance with the state-backed monetary information web site Cailianshe.
Leapmotor and VW China declined to remark. Reuters was unable to independently verify the reported discussions between the businesses.
Leapmotor unveiled on Monday a brand new platform it developed in-house for making autos, which its chief govt stated it needed to license to different automakers.
CEO Zhu Jiangming instructed reporters that Leapmotor was in superior talks with two overseas corporations about such a partnership, together with a brand new participant within the electrical automobile phase, which might produce Leapmotor-developed fashions in abroad markets.
Leapmotor’s shares in Hong Kong jumped as a lot as 5% in afternoon buying and selling after the Cailianshe report, reversing earlier losses.
Volkswagen and Xpeng introduced final week a partnership to collectively develop EVs on Xpeng’s ‘Edward’ platform on which the Chinese language startup’s G9 mannequin was constructed.
(Reporting by Beijing newsroom; Writing by Liz Lee; Modifying by Robert Birsel and Muralikumar Anantharaman)
