Xpeng stock climbs as firm expands tech licensing beyond VW

Xpeng stock rose 5.1% in morning trading following reports that the Chinese electric vehicle manufacturer plans to expand its technology licensing and customization business to foreign automakers beyond Volkswagen, its current strategic partner.

The company is offering its full suite of proprietary technologies to prospective new partners, according to reports. This includes its electronic architecture, cockpit systems, Turing AI chips, and advanced driver-assistance software. The move could diversify Xpeng's revenue base beyond vehicle sales.

Xpeng announced today that it has taken on a formal role within the United Nations Economic Commission for Europe to advance global collaboration on automated driving standards.

The G9L SUV recently completed its first European production trial at Magna's manufacturing facility in Graz, Austria. The model's global premiere is scheduled for October 12 at the Paris Motor Show.

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