XPeng Inks Cooperation Agreement for New Smart EV Manufacturing Base in Wuhan
April 08 2021 - 8:30AM
Business Wire
Strategic Move to Embrace Future
Growth
- City of Wuhan supports XPeng to build a Smart EV manufacturing
facility
- New facility has an annual capacity of 100,000 units with
manufacturing and powertrain plants
- Company in pole position to accelerate auto sector’s EV
penetration in China
XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading
Chinese smart electric vehicle (Smart EV) company, today entered
into a cooperation agreement with the City of Wuhan to build a new
XPeng Motors Wuhan Smart EV Manufacturing Base.
With an annual capacity by 100,000 units, the Company is well
positioned to capture growing consumer demand for Smart EVs as the
auto sector is experiencing the most significant transformation
over decades.
Supported by the Wuhan government, XPeng will commence the
construction of the new manufacturing base, covering a planned area
of over 733,000 square meters, and featuring manufacturing and
powertrain plants, as well as R&D facilities.
Known as one of China’s major automobile hubs, Wuhan is one of
the country’s six key passenger vehicle manufacturing centers, with
a well-developed auto supply chain and ancillary facilities,
benefiting from its superior geographic location as China’s
high-speed rail, expressway and water transportation hub. As the
capital of Hubei Province, Wuhan has a population of more than 11
million - the most populous city in Central China - and its GDP
exceeded RMB1,561 billion in 2020.
Expanding into China’s major auto manufacturing hub with strong
local government support is another landmark in XPeng’s strategic
development. The cooperation agreement highlights the comprehensive
support from the Wuhan government and its recognition of XPeng’s
leading role in the Smart EV sector.
“Smart EVs are booming in popularity in China. We have a
long-term strategic roadmap to embrace the sector’s transformation.
Expanding our capacity in key hubs like Wuhan plays a critical
role,” said Mr. He Xiaopeng, Chairman and CEO of XPeng at the
signing ceremony in Wuhan today. “Wuhan’s strategic location as an
auto manufacturing and distribution hub will further enhance our
supply chain management, sales and distribution network in the
future,” Mr. He continued.
“Our technology know-how will help the city enrich and upgrade
its Smart EV industrial capability, strengthening its pivotal role
as an auto hub for the future,” added Mr. He.
China's new energy vehicle market continues to gain momentum,
underlined by a record-breaking sales volume of over 1.3 million in
2020.
XPeng’s new Smart EV manufacturing base will also support
Wuhan’s strategic priorities of transforming and modernizing the
city’s industrial facilities, and auto manufacturing value chain,
creating major innovation clusters and employment opportunities to
power the auto industry of the future.
About XPeng
XPeng Inc. 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.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as “will,” “expects,” “anticipates,” “future,” “intends,”
“plans,” “believes,” “estimates” and similar statements. Statements
that are not historical facts, including statements about XPeng’s
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: XPeng’s goal
and strategies; XPeng’s expansion plans; XPeng’s future business
development, financial condition and results of operations; the
trends in, and size of, China’s EV market; XPeng’s expectations
regarding demand for, and market acceptance of, its products and
services; XPeng’s expectations regarding its relationships with
customers, contract manufacturers, suppliers, third-party service
providers, strategic partners and other stakeholders; general
economic and business conditions; and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks is included in XPeng’s filings with the SEC.
All information provided in this press release is as of the date of
this press release, and XPeng does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210408005568/en/
For Investor Enquiries:
IR Department XPeng Inc. Email: ir@xiaopeng.com
Jenny Cai The Piacente Group Tel: +1-212-481-2050 or
+86-10-6508-0677 Email: xpeng@tpg-ir.com
For Media Enquiries:
Marie Cheung XPeng Inc. Tel: +852-9750-5170 or +86-1550-7577-546
Email: mariecheung@xiaopeng.com
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