XPeng Inks Cooperation Agreement for New Intelligent EV Manufacturing Base in Wuhan | Organization & Finance

Freda Walters

GUANGZHOU, China–(Company WIRE)–Apr 8, 2021– XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese intelligent electric automobile (Wise EV) business, nowadays entered into a cooperation agreement with the Town of Wuhan to construct a new XPeng Motors Wuhan Smart EV Producing Foundation. With an annual capacity by 100,000 […]

GUANGZHOU, China–(Company WIRE)–Apr 8, 2021–

XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese intelligent electric automobile (Wise EV) business, nowadays entered into a cooperation agreement with the Town of Wuhan to construct a new XPeng Motors Wuhan Smart EV Producing Foundation.

With an annual capacity by 100,000 models, the Company is nicely positioned to seize growing shopper need for Intelligent EVs as the vehicle sector is suffering from the most considerable transformation around decades.

Supported by the Wuhan federal government, XPeng will begin the construction of the new production foundation, covering a planned spot of about 733,000 sq. meters, and that includes manufacturing and powertrain plants, as perfectly as R&D services.

Known as a single of China’s main car hubs, Wuhan is 1 of the country’s six crucial passenger automobile production centers, with a perfectly-produced car supply chain and ancillary facilities, benefiting from its outstanding geographic spot as China’s superior-velocity rail, expressway and h2o transportation hub. As the funds of Hubei Province, Wuhan has a population of additional than 11 million – the most populous metropolis in Central China – and its GDP exceeded RMB1,561 billion in 2020.

Expanding into China’s significant vehicle production hub with solid regional govt aid is a different landmark in XPeng’s strategic growth. The cooperation agreement highlights the in depth help from the Wuhan governing administration and its recognition of XPeng’s main function in the Wise EV sector.

“Smart EVs are booming in level of popularity in China. We have a lengthy-expression strategic roadmap to embrace the sector’s transformation. Expanding our capability in vital hubs like Wuhan plays a important position,” explained Mr. He Xiaopeng, Chairman and CEO of XPeng at the signing ceremony in Wuhan right now. “Wuhan’s strategic location as an vehicle production and distribution hub will further increase our offer chain management, profits and distribution community in the future,” Mr. He continued.

“Our know-how know-how will aid the city enrich and enhance its Sensible EV industrial functionality, strengthening its pivotal part as an car hub for the potential,” included Mr. He.

China’s new energy auto sector carries on to get momentum, underlined by a report-breaking sales volume of around 1.3 million in 2020.

XPeng’s new Sensible EV production base will also aid Wuhan’s strategic priorities of transforming and modernizing the city’s industrial services, and auto production value chain, creating key innovation clusters and work possibilities to electrical power the automobile sector of the future.

XPeng Inc. is a top Chinese clever electrical car firm that styles, develops, manufactures, and marketplaces Intelligent EVs that appeal to the massive and increasing base of know-how-savvy center-class buyers in China. Its mission is to generate Sensible EV transformation with technologies and info, shaping the mobility knowledge of the long term. In get to improve its customers’ mobility knowledge, XPeng develops in-dwelling its comprehensive-stack autonomous driving technological innovation and in-car intelligent running process, as perfectly as main automobile programs like powertrain and the electrification/electronic architecture. XPeng is headquartered in Guangzhou, China, with workplaces in Beijing, Shanghai, Silicon Valley, and San Diego. The Company’s Clever EVs are manufactured at vegetation in Zhaoqing and Zhengzhou, positioned in Guangdong and Henan provinces, respectively. For extra details, please visit https://en.xiaopeng.com.

This announcement has ahead-seeking statements. These statements are created underneath the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-on the lookout statements can be discovered by terminology these kinds of as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and equivalent statements. Statements that are not historic info, including statements about XPeng’s beliefs and expectations, are ahead-looking statements. Ahead-hunting statements entail inherent challenges and uncertainties. A variety of components could induce actual benefits to differ materially from people contained in any forward-hunting statement, such as but not restricted to the following: XPeng’s goal and procedures XPeng’s expansion programs XPeng’s long term organization progress, financial affliction and results of functions the tendencies in, and size of, China’s EV market XPeng’s anticipations relating to need for, and sector acceptance of, its products and solutions and services XPeng’s expectations relating to its associations with buyers, agreement companies, suppliers, third-celebration support vendors, strategic associates and other stakeholders normal financial and small business problems and assumptions fundamental or related to any of the foregoing. Even more facts regarding these and other dangers is integrated in XPeng’s filings with the SEC. All info provided in this press launch is as of the day of this press release, and XPeng does not undertake any obligation to update any forward-wanting statement, apart from as expected beneath applicable legislation.

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PUB: 04/08/2021 09:30 AM/DISC: 04/08/2021 09:30 AM

Copyright Organization Wire 2021.

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