In 2020, Xpeng Motors debuted on the New York Stock Exchange in August, becoming one of the three U.S.-listed Chinese new energy vehicle startups. What’s more, the company started to export vehicles to overseas market last year. The following are some important news about Xpeng in 2020.

Xpeng Motors founds Shenzhen-based subsidiary for R&D, sales of smart robots

Chinese EV startup Xpeng Motors recently set up a subsidiary in Shenzhen that primarily engages in the R&D and sale of intelligent robots.

Dubbed Shenzhen Pengxing Intelligence Co.,Ltd., the company was founded on Dec. 22 and involves a registered capital of 10 million yuan ($1.528 million), according to the corporate data platform Tianyancha. It has a line of businesses including the R&D and sale of intelligent robots, and the sale of AI-powered hardware, industrial robots and service robots. It is jointly held by Guangdong Xiaopeng Automotive Industry Holding Co., Ltd., Zhao Tongyang and He Xiaopeng, the chairman of Xpeng Motors. Of those, Mr. He is the majority shareholder by owning 65.1% equity interests.

Startup XPeng intends to sell 40 mln ADSs to raise $1.942 billion

XPeng Inc. (XPeng or the Company), a leading Chinese electric vehicle (EV) startup, announced on Dec. 7 that it plans to offer and sell 40 million American Depositary Shares (ADSs) to the public, which represent 80 million Class A ordinary shares.

In addition, the Company has granted the underwriters a 30-day option to purchase up to a total of 6 million additional ADSs.

XPeng Reports Third Quarter 2020 Unaudited Financial Results

XPeng’s total revenues were RMB1,990.1 million (US$293.1 million) for the third quarter of 2020, representing an increase of 342.5% from RMB449.7 million for the same period of 2019 and an increase of 236.9% from RMB590.8 million for the second quarter of 2020.

Revenues from vehicle sales were RMB1,898.0 million (US$279.6 million) for the third quarter of 2020, representing an increase of 376.0% from RMB398.8 million for the same period of 2019, and an increase of 250.8% from RMB541.1 million for the second quarter of 2020.

Gross margin was 4.6% for the third quarter of 2020, compared with negative 10.1% for the same period of 2019 and negative 2.7% for the second quarter of 2020.

Xpeng Motors’ Zhaoqing subsidiary allowed to expand assembly line

Zhaoqing Xiaopeng Motors Co.,Ltd. (Zhaoqing Xiaopeng), a subsidiary of Chinese EV startup Xpeng Motors, has been given green light to expand its assembly line, targeting an annual capacity of 100,000 new energy passenger vehicles upon completion of the project, according to the corporate data platform Tianyancha.

Tianyancha's records also show that registered capital of the subsidiary rose to 1.5 billion yuan ($223,890,600) from 500 million yuan ($74,630,200) at the end of October. Meanwhile, the rental of non-residential real estate, mechanical equipment and warehousing facilities has been added to its line of businesses.

10,000th Xpeng P7 leaves production line

On October 20, at the Zhaoqing plant of Xpeng Inc., the 10,000th P7 rolled off the production line, another milestone for the smart electric vehicle company. In May, 2020, the company began to produce the four-door sports sedan. It took less than 160 days for the company to achieve the milestone, the shortest time for China’s new energy vehicle startups to make such an accomplishment for a single model.

With a maximum range of 706 km (439 miles) on a single charge, the company’s second mass-produced Smart EV has a post-subsidy price range from RMB229,900 to RMB349,900.

Xpeng Motors starts building second complete vehicle manufacturing base

EV startup Xpeng Motors celebrated on September 28 the first spade cut for its ICV intelligent manufacturing base at Guangzhou Knowledge City (called “Guangzhou base” for short), its second complete vehicle production plant following the Zhaoqing-based one, according to a local media outlet.

Meanwhile, the EV manufacturer announced the cooperation agreement signed with Guangzhou GET Investment Holdings Limited, who will provide 4 billion yuan ($586,562,000) worth of fund for Xpeng Motor speeding up business expansion, including constructing new intelligent manufacturing base in Guangzhou Economic and Technology Development Zone (called “Guangzhou Development Zone” for short) and purchasing relevant facilities.

Xpeng Motors exports first European-spec G3is to Norway

On September 24, a ro-ro ship loaded with 100 Xpeng G3i SUVs officially departed from Guangzhou and is expected to arrive in Norway in November, signifying the outset of Xpeng Motors' export journey.

“The first European-spec super-long-range Xpeng G3 intelligent SUVs formally left for Norway today, which made us so proud. It indicates that Xpeng Motors has made headway in various links such as product R&D, intelligent manufacturing and market expansion, and its products started to be tested by overseas consumers,” said Xia Heng, co-founder and president of Xpeng Motors.

Xpeng rings opening Bell in celebration of IPO

Xpeng Motors, a smart EV company in China, rang the New York Exchange’s opening bell virtually on August 27. The automaker, a five-year-old Chinese EV company, started trading under the symbol “XPEV” on the New York Stock Exchange, becoming the third U.S.-listed Chinese EV startup.

Earlier, the automaker said it would price its shares at $15, higher than the high range of $11 to $13, which it indicated before. The size of its IPO has been thus increased to about $1.5 billion. According to its original plan, the automaker wanted to sell 85 million American Depository Shares (ADS), but the demand is higher than expected so that it increased that to 99.7 million shares.

Xpeng Motors announces US$500mn Series C+ financing with Aspex, Coatue, Hillhouse, Sequoia Capital China as investors

Xpeng Motors (the “Company”), a leading smart electric vehicle (“Smart EV”) company in China, today announced the signing of its Series C+ financing of around US$500 million with a group of investors including Aspex, Coatue, Hillhouse and Sequoia Capital China.

The signing of the Series C+ financing demonstrates investors' confidence in the Company’s strategy, market positioning and its long-term vision as a leading Smart EV player in China.

Xpeng Motors given green light to produce EVs by itself

Xpeng Motors has been approved by the government to produce vehicles at its fully-owned manufacturing plant in Zhaoqing, Guangdong province, the EV startup announced on May 19.

The acquisition of the production license came with MIIT’s issuance of the newest Announcement of Road Power-Driven Vehicle Manufacturing Enterprises and Products (hereinafter referred to as “the Catalogue”), which said the manufacturing base address of Zhaoqing Xiaopeng New Energy Investment Co.,Ltd. (Zhaoqing Xiaopeng) has been changed to Zhaoqing Hi-Tech Industrial Development Zone in Guangdong province, on which Xpeng’s first self-built plant is located.

EV startups Xpeng Motors, Byton jointly invest in NEV R&D company

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.