The Firm is representing XPENG Inc. (“XPENG,” NYSE: XPEV and HKEX: 9868.HK) in its announced strategic minority investment by the Volkswagen Group, pursuant to which the Volkswagen Group will acquire an approximately 4.99% minority stake of XPENG for a total consideration of approximately US$700 million, subject to customary closing conditions. XPENG and Volkswagen Group also entered into a strategic technical collaboration, in connection with which XPENG and the Volkswagen Group will jointly develop two B-class battery electric vehicles models.~~XPENG is a leading Chinese Smart EV company that designs, develops, manufactures and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. The Volkswagen Group is one of the world’s leading automobile manufacturers.~~The Simpson Thacher team includes Yang Wang, Amy Liu and Boli Chen (M&A); Yi Gao (Capital Markets); Jennifer Nadborny (Public Company Advisory Practice); David Yun (HK Corporate); Lori E. Lesser and Kate Mirino (IP); and Ross Ferguson (Antitrust).