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Yahoo
6 hours ago
- Yahoo
Volkswagen Expands XPeng Partnership To Speed Software Upgrades Across All Car Types
XPeng (NYSE:XPEV) and Volkswagen (OTC:VWAGY) announced on Friday that they have deepened their partnership by expanding their E/E Architecture collaboration beyond electric vehicles to internal combustion engine (ICE) and plug-in hybrid (PHEV) platforms in China. The move builds on their July 2024 master agreement and aims to accelerate Volkswagen's software-defined vehicle strategy, enabling faster software iterations, over-the-air updates, and shorter development cycles. Joint R&D teams validated that the architecture, initially designed for EV platforms, works across multiple powertrains, unlocking economies of scale and boosting product companies framed the deal as a milestone in their long-term strategic alliance, with XPeng CEO Xiaopeng He highlighting a shared vision for smart vehicle innovation and Volkswagen China CEO Ralf Brandstätter emphasizing the competitive and cost advantages in China's intense auto market. Volkswagen continues to count on multiple partners for its electrification drive, including Rivian Automotive Inc. (NASDAQ:RIVN), which is supporting its flagship "Project Trinity" EV and a new budget model. XPeng stock gained 64% year-to-date. The EV maker's weekly registrations fell 12.9% to 7,900 units from August 4–10, but surged 229.2% year-over-year, defying a weaker Chinese EV market after July's 5% month-on-month sales drop. Lower-priced EVs under 100,000 yuan with basic self-driving features drove demand, while Fitch expects a fourth-quarter rebound as buyers rush to beat upcoming EV sales tax hikes. Price Action: XPEV shares are trading higher by 2.12% to $19.79 premarket at last check on Friday. Image by THINK A via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Volkswagen Expands XPeng Partnership To Speed Software Upgrades Across All Car Types originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
9 hours ago
- Forbes
Grab Partners With WeRide To Rollout Robotaxis Across Southeast Asia
Ride-hailing and delivery giant Grab Holdings is teaming up with WeRide to accelerate the deployment and commercialization of autonomous vehicles across Southeast Asia. Under the deal, Singapore-based Grab said it will make a strategic investment to support WeRide's commercial autonomous vehicle fleet in Southeast Asia and push AI-driven mobility. The transaction is set to be completed in the first half of 2026, it added, without disclosing financial details. 'We want everyone in Southeast Asia to have access to reliable transportation whenever they need it,' Grab Group CEO and co-founder Anthony Tan said in a joint statement on Friday. 'However, manpower constraints remain a challenge. We believe autonomous vehicles can complement our driver network and be deployed in cities with significant driver shortages.' The expanded partnership follows a preliminary agreement signed by both Nasdaq-listed companies in March this year to explore the technical feasibility and commercial viability of autonomous vehicles in Southeast Asia. Grab's investment will accelerate the deployment and commercialization of WeRide's level 4 autonomous vehicles (which are designed to operate in specific geographies and weather conditions without human intervention) in Southeast Asia, Guangzhou, China-based WeRide said in the statement. 'WeRide's vision for Southeast Asia is to deploy thousands of Robotaxis across the region,' Tony Han, founder and CEO of WeRide, said. 'Grab, our newest partner and investor, is a household name in Southeast Asia with unmatched regional expertise and scale in ride-hailing and digital services.' WeRide has permits to operate autonomous vehicles across China, France, Saudi Arabia, Singapore, United Arab Emirates and the U.S. It posted a net loss of 406.4 million yuan ($57 million) in the second quarter, slightly narrower than a year ago, as revenue jumped 61% to 127.2 million yuan. Grab swung to a $35-million net profit in the second quarter, compared with a $53 million net loss a year ago as sales climbed 23% to $819 million on the back of sustained demand for ride-hailing and delivery services in Southeast Asia. It added about two million monthly active users during the quarter, bringing its total to 46 million.
Entrepreneur
12 hours ago
- Entrepreneur
Smart Mobility Maker
Since its inception, Alt Mobility has experienced rapid growth, deploying over 13,000 EVs and operating in more than 30 cities. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. When Dev Arora co-founded Alt Mobility in 2022, he had a clear goal in mind: to make electric mobility more accessible and practical for India's expanding transportation landscape. With his experience in startup innovation and a keen sense for market opportunities, Arora recognised that one of the biggest hurdles to EV adoption wasn't the technology—it was financing. "Traditional lenders weren't built for the EV revolution," Arora, Co-founder and CEO of Alt Mobility, explained. "We needed to develop a new model, one that caters to both businesses and everyday drivers." This new approach led to the creation of Alt Mobility—an EV leasing and asset management platform that goes beyond just providing vehicles. The startup has built a comprehensive ecosystem that includes maintenance, servicing, roadside assistance, and access to an extensive charging and service network. Since its inception, Alt Mobility has experienced rapid growth, deploying over 13,000 EVs and operating in more than 30 cities. With an asset under management (AUM) exceeding INR 250 crore, it now caters to both commercial fleets and individual drivers, offering flexible and cost-effective leasing solutions. "For many people, purchasing an EV feels risky," Arora noted. "We eliminate that uncertainty by providing all-inclusive plans that cover service, warranty, insurance, and even 24/7 support." At the core of Alt's offerings is its proprietary FleetOS platform, which utilises AI, IoT, and telematics to monitor vehicle health, track usage, and ensure proactive maintenance. This not only prolongs the life of the vehicles but also maximises uptime—essential for businesses that depend on having vehicles ready for revenue generation. What sets Alt Mobility apart is its Drive-to-Own model, which enables drivers to gradually shift from leasing to ownership. This approach has been particularly beneficial for individuals who lack access to traditional financing, fostering economic empowerment and long-term asset creation. "Ownership is a powerful thing, especially for those working to build their livelihoods," Arora emphasised. "We aimed to create a pathway that makes that possible." Scaling the business definitely came with its challenges. Getting customers on board with a new approach to owning and managing vehicles meant we had to focus on education and building trust. "Alt tackled this by blending innovation with robust support systems and forming partnerships throughout the EV value chain—from manufacturers to charging networks," he explained. Looking to the future, Dev sees opportunities to branch out into four-wheeled cargo vehicles and electric buses, strengthening their foothold in key markets across India and playing a crucial role in the nation's shift towards clean mobility. "The future of transportation in India is electric. We're committed to fostering a cleaner, smarter, and more sustainable future for India's mobility landscape," he added. Facts:
