XPeng in talks to buy a Volkswagen plant in Europe as exports surge 62%

XPeng is negotiating with Volkswagen to acquire a factory in Europe due to a surge in its exports, which reached a record 6,006 vehicles in April, marking a 62% year-over-year increase. This potential acquisition highlights a trend among Chinese automakers, including BYD, to localize production in Europe as they expand their market presence. The discussions reflect the growing competition in the European EV market.