0752 GMT - XPeng is one of the most mentioned companies in the news over the past 12 hours, according to Factiva data, as ADRs in the U.S. and shares in Hong Kong rose sharply following news of an investment from Volkswagen. The two companies said Wednesday that Volkswagen is taking a roughly 5% stake in XPeng as part of a broader collaboration through which the companies will jointly develop two B-class battery electric vehicles for sale in China. The investment will total about $700 million, they said. XPeng's ADRs rose by 27% overnight and were recently up 35% in Hong Kong. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)

(END) Dow Jones Newswires

July 27, 2023 04:07 ET (08:07 GMT)

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