October 23, 2020
Business News

XPeng Announces Cooperation Agreement for New Smart EV Manufacturing Base in Guangzhou

GUANGZHOU, China–()–XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, announced today that its wholly owned subsidiary in China, Guangdong Xiaopeng Motors Technology Co., Ltd. (“Guangdong Xiaopeng”), entered into a cooperation agreement (“Cooperation Agreement”) with Guangzhou GET Investment Holdings Co., Ltd. (“Guangzhou GET Investment”), a wholly owned investment company of Guangzhou Economic and Technological Development Zone.

According to the terms of the Cooperation Agreement, Guangzhou GET Investment agrees to provide RMB4 billion in financing to help fuel XPeng’s growth as well as support the construction of a new…

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