XPeng and Guangdong Provincial Investment Arm Ink Strategic Agreement

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a leading Chinese smart electric car (“Smart EV”) enterprise, today announced that its subsidiary in China has already reached a strategic cooperation contract with Guangdong Yuecai Expenditure Holdings Co., Ltd. (“Yuecai”), the investment arm of the Guangdong provincial federal government. Pursuant to the agreement, Yuecai will invest a complete of RMB500 million, through the Guangdong Industrial Creation Fund, in XPeng’s subsidiary in China to help expand accelerate the Company’s business expansion.

The investment recognizes XPeng’s leadership position in the Smart EV industry in China and its strategy of growing proprietary R&D tailored for native customer needs. The expenditure as well acknowledges XPeng’s significant contributions to local economic development, in particular to the transition of the auto sector, developing advanced EV technology, and building the connected and intelligent mobility ecosystem and offer chain, as well regarding the local talent base growth in Guangdong Province.

The Guangdong Industrial Creation Fund promotes top quality advancements in the production industry with an enthusiastic give attention to the strategic production of the auto industry, among the economic pillars of Guangdong. The purchase in XPeng makes a win-win solution, not only boosting XPeng’s leading position in the Smart EV sector but also accelerating the auto industry’s strategic transition in Guangdong.

Headquartered in Guangzhou, the capital metropolis of Guangdong, XPeng has a good foothold in the Province. THE BUSINESS currently employs over 5,000 staff, most of them located in Guangdong, and features two wholly-owned intelligent making bases in the Province, one in full operation in Zhaoqing, and the different under development in Guangzhou.

A key component of China’s Greater Bay Area, Guangdong Province may be the most significant contributor to the country’s GDP. In 2020, the GDP of Guangdong Province exceeded RMB11 trillion, marking its leading GDP rank in China for 32 consecutive years.

“Guangdong is our birthplace, where we style, innovate, exploration and build our goods. It has nurtured our growth and witnessed our improvement for days gone by six years. This purchase from the Guangdong provincial federal government reinforces our determination to driving Good EV transformation with technology and data, and to building a extensive EV infrastructure in the fastest-growing regions of China,” said He Xiaopeng, Chairman and CEO of XPeng at the signing ceremony.

The Guangdong Industrial Expansion Fund manages RMB50 billion of assets, concentrating on professional upgrading and reform advancements to foster growth in emerging sectors such as for example information technology, high-end equipment manufacturing, new energy and biomedicine.

Xpeng is a respected Chinese smart electric car company that styles, develops, manufactures, and market segments Smart EVs that appeal to the large and growing foundation of technology-savvy middle-class consumers in China. Its objective is to drive Smart EV transformation with technology and info, shaping the mobility connection with the future. So that you can optimize its customers’ mobility encounter, Xpeng develops in-house its full-stack autonomous driving technology and in-car smart operating-system, in addition to core vehicle systems incorporating powertrain and the electrification/electronic architecture. Xpeng is certainly headquartered in Guangzhou, China, with office buildings in Beijing, Shanghai, Silicon Valley and NORTH PARK. The Company’s Smart EVs are created at crops in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please go to https://en.xiaopeng.com.
Source: https://www.valdostadailytimes.com

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