BEIJING - Volkswagen AG said on Wednesday it has developed a new architecture for intelligent and electric cars with its Chinese partner Xpeng, which the German automaker said will help it offer more affordable EVs in its biggest market.
"Competition is very fierce, and we have to adapt our cost structure to be competitive in this environment," Volkswagen Group board member and China chief Ralf Brandstaetter told reporters on Wednesday. The automakers said their economies of scale and platform and software collaboration will reduce costs and slash development time by 30%.
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