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HONG KONG (Reuters) -Chinese electric car company Xpeng said it will acquire ride-hailing giant Didi's smart electric vehicle (EV) unit in a deal worth as much as $744 million and the two companies will form a strategic partnership. As part of the deal, Xpeng will launch an A-class model next year under a new brand, currently called MONA, aiming to expand in the mass-market segment with the car to be priced in the $20,000 price tier. "Project 'MONA' will accelerate the Company's production and s ....
Chinese electric car giant XPeng said Monday it would buy the EV subsidiary of ride-hailing platform Didi for more than $740 million and launch a new brand of vehicles.In a filing to the Hong Kong Stock Exchange where XPeng is listed the car giant said it had reached a deal with Didi to buy that subsidiary for $744 million. ....