XPeng and Guangdong Provincial Investment Arm Ink Strategic Agreement

Mar 15, 2021•over 4 years ago

Guangzhou

Description

XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced that its subsidiary in China has reached a strategic cooperation agreement with Guangdong Yuecai Investment Holdings Co., Ltd. (“Yuecai”), the investment arm of the Guangdong provincial government. Pursuant to the agreement, Yuecai will invest a total of RMB500 million, through the Guangdong Industrial Development Fund, in XPeng’s subsidiary in China to further accelerate the Company’s business expansion.

Company Information

Company

Xpeng

Location

Guangzhou, Guangdong Province, China

About

Xpeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, Xpeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. Xpeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley and San Diego. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit https://en.xiaopeng.com.