Monday, 28 August, 2023

XPeng Acquires DiDi's Smart EV Assets for $744M, Accelerating Tesla Rivalry

Chinese electric vehicle manufacturer XPeng has purchased DiDi's smart electric vehicle (EV) assets for $744 million, intensifying its competition with Tesla. The acquisition includes DiDi's EV engineering team, a production facility, and relevant intellectual property. This move signifies XPeng's commitment to expanding its presence in the EV market and enhancing its competitive position against other industry players like Tesla.