XPeng and Zhongsheng Group Form Strategic Partnership to Accelerate Smart EV Adoption
April 15 2021 - 7:30PM
Business Wire
XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading
Chinese smart electric vehicle (“Smart EV”) company, today
announced that it has entered into a Memorandum of Understanding
(“MoU”) with Zhongsheng Group (“Zhongsheng”, HKEX: 0881), a leading
automobile dealership group in China, to establish a long-term
strategic partnership to provide both XPeng’s industry-leading
Smart EV products and Zhongsheng’s high quality services to
consumers, in order to further accelerate the Smart EV adoption in
China.
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XPeng smart EV fleet
Through the partnership, the Company will leverage Zhongsheng’s
well-established dealership network and expertise in serving
consumers for mid-to-high end automobiles to further accelerate
XPeng’s sales growth, while strengthening its after-sales services
capabilities.
Pursuant to the partnership, Zhongsheng Group will be investing
in and operating authorized XPeng branded dealership outlets to
provide smart EV sales and services. Such sales and services
facilities will be first launched in tier-1 or high-potential
cities in China within 2021.
Looking ahead, both parties will also explore more strategic
cooperation opportunities in business model innovations, creating
long-term competitive advantages and value propositions to seize
huge growth potential in Chinese Smart EV market.
“Consumer demand for high-quality Smart EVs is spurring rapid
market growth in China,” said He Xiaopeng, Chairman and CEO of
XPeng. “By partnering with Zhongsheng, we can accelerate the pace
of expanding our sales and service network and promote XPeng’s
differentiated Smart EV products and advanced autonomous driving
capability to customers. The partnership will also further enhance
our brand awareness, making our Smart EVs accessible to a wider
range of customers. I believe the long-term strategic partnership
with Zhongsheng will strengthen our leadership in the fast-growing
Smart EV sector in China.”
“Based on our robust group performance, a strong mix of brands
in our portfolio and a nationwide dealership network with over 5
million customers across China, we are excited to take another step
to embrace our industry’s move toward EVs,” said Huang Yi, Chairman
of Zhongsheng. “We are proud to enter a national strategic
partnership with XPeng to accelerate their sales and provide
high-quality services to their customers. This partnership will
mark the realization of Zhongsheng’s New Energy Vehicle Strategy,
which we initiated in Q4 2020. I strongly believe that the close
collaboration between one of the leading manufacturers of smart
premium EVs and one of the largest automotive dealer groups
globally will substantially contribute to our mutual growth and
sustainable mobility.”
About XPeng Inc.
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 in the U.S. 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.
ABOUT ZHONGSHENG
Zhongsheng Group is a leading national automobile distribution
group in China principally engaged in providing one-stop services,
including sales of new and second-hand automobiles, after-sales,
refitting, parts and accessories, financial, insurance and leasing
services. It currently operates automobile brands, consisting of
luxury automobile brands including Mercedes-Benz, Lexus and Audi
and mid-to-high end automobile brands including Toyota, Nissan and
Honda.
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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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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