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Volkswagen China is spending lots of time at Xpeng to make new EVs

Top Volkswagen and Xpeng executives pose at the German automaker’s launch event in Beijing, China, on Aug. 24, 2024. Bloomberg | Bloomberg | Getty Images BEIJING — Hundreds of Volkswagen staff are spending time at Xpeng as the German auto giant and Chinese startup work to create electric cars for China, Xpeng co-president Brian Gu told CNBC on Monday. He …

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Oil soars as Middle-East tensions spike

Traders work on the floor of the New York Stock Exchange during afternoon trading on April 09, 2024 in New York City.  Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like …

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Shares of Temu parent company PDD plunge 29%; largest one-day loss

Jakub Porzycki | Nurphoto | Getty Images The nearly 30% drop in shares of Chinese online retailer PDD Holdings is “too much of a correction,” according to Shaun Rein, founder and managing director of the China Market Research Group. Speaking to CNBC’s “Street Signs Asia,” Rein said the “panic was overblown last night,” and that this would be a good …

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