XPeng Signs Strategic Cooperation Agreement with Agricultural Bank of China, Securing RMB7.5 Billion Credit Facilities

Barbie Espinol

GUANGZHOU, China, April 27, 2022–(Company WIRE)–XPeng Inc. (“XPeng” or the “Corporation”, NYSE: XPEV and HKEX: 9868), a foremost Chinese good electrical motor vehicle firm, currently introduced that it has signed a strategic cooperation settlement with the Agricultural Lender of China (“ABC”) Guangdong Branch, pursuant to which the Enterprise will secure a thorough credit rating line of up to RMB7.5 billion for its subsidiaries and affiliate marketers in China (the “Settlement”).

This press launch characteristics multimedia. See the total launch right here: https://www.businesswire.com/information/property/20220427005485/en/

XPeng inks strategic arrangement with Agricultural Financial institution of China, Guangdong Branch, securing RMB7.5 billion credit score amenities (Photograph: Company Wire)

Beneath the terms of the Settlement, the ABC Guangdong Department will offer an extensive range of credit rating services to help the Company’s company functions and expansion in China.

“We are very pleased with the Settlement, with terms demonstrating the economic institution’s strong believe in in our reliable enterprise fundamentals and development potential customers. As we go after speedy know-how and merchandise iterations, we will continue on to improve our item competitiveness and convey persuasive EV knowledge to our individuals,” mentioned Mr. He Xiaopeng, Chairman and CEO of XPeng.

This credit history line, that includes the major credit rating limit granted to an rising Chinese automaker by the ABC, is a potent testament to XPeng’s leadership placement in the Smart EV sector as XPeng is committed to the system of in-property comprehensive-stack R&D enhancement. These credit history amenities below the Settlement will further diversify the Company’s funding channels and aid improve the efficiencies in money administration, cost regulate and extra corporate initiatives.

In 2021, XPeng delivered 98,155 smart EVs, a 263% improve in contrast with 2020, building it the leading-rated emerging Chinese EV maker of the year. The Company’s overall profits exceeded RMB20 billion in 2021, a 259% improve as opposed with 2020. Regardless of the challenging industry situations, 34,561 good EVs ended up delivered in Q1 2022, a 159% improve yr-above-yr.

About XPeng

XPeng is a top Chinese Sensible EV business that designs, develops, manufactures, and marketplaces Intelligent EVs that charm to the significant and expanding foundation of technological innovation-savvy middle-course buyers in China. Its mission is to drive Intelligent EV transformation with know-how and data, shaping the mobility knowledge of the future. In buy to improve its customers’ mobility working experience, XPeng develops in-dwelling its total-stack highly developed driver-guidance process technologies and in-auto smart functioning procedure, as properly as core auto techniques which includes powertrain and the electrification/electronic architecture. XPeng is headquartered in Guangzhou, China, with key workplaces in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. The Company’s Smart EVs are mostly made at its plant in Zhaoqing, Guangdong province. For a lot more details, be sure to check out https://heyxpeng.com.

Watch supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20220427005485/en/


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