Beijing (ZXZC)- China’s EV startup XPeng Inc. released an announcement stating it had gained permission to possess 50% in Yidian Mobility Co., Ltd. and Zhipeng V2X Technology Co., Ltd, respectively.

P5; photo credit: XPeng

Yidian Mobility is the company that carries out XPeng’s ride-hailing service in Guangzhou. Other shareholders of the company are XPeng’s chairman, He Xiaopeng, at 40%, and XPeng’s co-founder and CEO, Xia Heng, at 10%. 

The XPeng-linked Zhipeng V2X is registered as a computing research and development company, with Xia Heng and XPeng’s co-founder He Tao accounting for 40% and 10% of the company’s stake, respectively.

XPeng will continue to enhance the two companies’ financial performance and include them into XPeng’s combined financial statement, the automaker added.

After the equity increment, Yidian Mobility and Zhipeng V2X will be on the fast track to create synergy with their parent company, XPeng. The decision will improve XPeng’s financial data and bring in new aspects for the company to grow in.

Photo credit: XPeng

In addition, on November 18th, the auto startup is orchestrating a “brand refreshment party” to unveil its new logo design and more. The new logo was talked to stay in its original “X” form, with nuanced changes.