Shanghai (ZXZC)- Xpeng Motors and Byton have jointly invested in a Nanjing-registered NEV R&D company, a significant cooperation formed between two Chinese EV startups.

According to the business data platform Tianyancha, the new joint venture was founded on March 13, involving a total registered capital of RMB20 million. Aside from the foregoing two, it still has another nine shareholders, some of which are high-tech companies founded by the talents graduating from Tsinghua University.

（Photo source: Xpeng Motors)

Xpeng Motors said the new company is positioned as a R&D technology company that explores the combination of production and research in NEV area. Tianyancha shows that its business scope extends to cover the research and test of engineering and technologies, industrial service design, software development, as well as services about information system integration, convention & exhibition, and public relation.

It was not the first time for Xpeng Motors to join hands with its rivals. The Guangzhou-based EV manufacturer announced in last December it had partnered with NIO Power to collaborate on battery charging services, optimizing the charging experience for customers. According to the agreement, Xpeng Motors would gradually connect its charging network and payment processing system with NIO Power's across the country.

The collaboration allows Xpeng's car owners to use NIO Power's supercharging piles through the Xpeng App. Meanwhile, NIO’s users can also use Xpeng's supercharging facilities across many first-tier and second-tier cities in China. 

（Photo source: Byton)

According to the details announced by Byton in early March, the first mass-produced model “M-Byte” is targeted to tap European markets by the end of 2021. The first launching waves will be sent to Switzerland, Germany, Norway, France, the Netherlands and Sweden.

Moreover, Byton has forged a strategic partnership with Digital Charging Solutions (DCS) from Munich, the leading European e-mobility service provider. Both parties will develop a fully integrated charging experience to enable hassle-free long-distance journeys for Byton's users.