Shanghai (ZXZC)- Guangzhou Chengxing Zhidong Motors Technology Co.,Ltd. (Chengxing Zhidong), a subsidiary of Xpeng Motors, set up an auto parts manufacturing company last week.

According to the corporate data platform Tianyancha, the new company, dubbed Guangzhou Zhipeng Manufacturing Co.,Ltd., was registered in Jan. 14 in Guangzhou. Involving a registered capital of 50 million yuan ($7.705 million), it has a line of business includes the R&D, manufacture, retail and wholesale of automotive parts, the maintenance of electrical equipment, the production and sale of batteries and electrical & electronic parts, the manufacture of intelligent in-car facilities and IoT (Internet of Things) equipment, as well as the sale of NEV battery swapping facilities.

Xia Heng, co-founder and president of Xpeng Motors, serves as the legal representative of the new subsidiary.

Chengxing Zhidong is 99% controlled by Guangdong Xiaopeng Motors Technology Co., Ltd., according to Tianyancha. It has nine subsidiaries, five of which were wholly-owned branches. 

Xpeng P7; photo credit: Xpeng Motors

Xpeng Motors saw its monthly deliveries hit a record high of 5,700 units in December 2020, consisting of 3,691 P7 sports sedans and 2,009 G3 SUVs.

In the fourth quarter of 2020, the company delivered a total of 12,964 EVs, 30% higher than the forecast mentioned in the third-quarter financial results.

The full-year deliveries of 2020 amounted to 27,041 units, surging 112% year on year. Cumulative deliveries of the P7 reached 15,062 units with the volume delivery starting at the end of June.

As of Dec. 29, 2020, Xpeng Motors' free supercharging service has tapped over 100 cities in China with 670 supercharging stations, serving over 90% of Xpeng's users.

The startup said on Dec. 31, 2020 it had collaborated with Livox, a leading lidar maker, to deploy its automotive-grade lidar technology in Xpeng's new production model in 2021. Livox is Xpeng Motors' first partner in LiDAR field.

Last week, Xpeng Motors signed a deal with five banks for a credit line worth 12.8 billion yuan ($1.972 billion). Those banks granted the credit extension to help Xpeng Motor build its business operation, production, sale and service systems.