Copyright FOURIN, Inc. 2023
BEV Maker Xpeng to Launch New Model, Expand Charging Network in 2020
Emerging Chinese BEV maker Guangzhou Xiaopeng Motors Technology (or Xpeng) sold 16,608 BEVs in 2019 which is less than half than its annual target of 40,000 units. In addition to the initially set target being too high, sales were negatively affected by the significalt reduction of NEV purchase subsidies in the latter half of 2019. In 2020, in an effort to boost sales, Xpeng plans to expand its product lineup by launching the P7 sports car P7 as well as expand its charging service and sales network. Xpeng’s first mass-manufactured model is the G3 compact SUV. Initially, Xpeng did not have a vehicle production license, so the production of the G3 was subcontracted to Haima Automobile. In March 2020, Xpeng’s subsidiary Zhaoqing Xpeng New Energy Investment purchased Guangdong Foday Automobile. Through the purchase, Xpeng acquired Foday’s production license which is needed for automobile production in China. As a result, Xpeng’s Zhaoqing plant in Guangzhou province, which was completed in the second half of 2019, can begin operation in 2020.
The Zhaoqing plant is scheduled to manufacture Xpeng’s second mass-manufactured model the P7 sports car. Meanwhile, the G3 is expected to be continued to be OEM supplied by Haima Automobile.
In addition to increasing its product lineup, Xpeng is also expanding its charging network. The automaker concluded business partnerships in connection to vehicle charging with charging facility maintenance provider TELD in September 2019 and with emerging NEV manufacturer NIO in December of the same year. TELD will build charging facilities for Xpeng while Xpeng and NIO will share their charging facilities with each other. As of the end of December 2019, through charging business tie-ups with other companies, users of Xpeng models were able to use approximately 200,000 chargers across China.
Xiaopeng Motors: Company Overview and Production History
|Full name:||Guangzhou Xiaopeng Motors Technology Co., Ltd.|
|Short name:||Xiaopeng Motors or Xpeng|
|Location:||Guangzhou city, Guangdong province|
|Established:||May 2016 (corporate registration)|
|Legal representative:||Xia Heng|
|Capital:||Approx. 6.13 billion yuan|
|Ownership:||Guangzhou Chengxing Zhidong Motors Technology 97.94%, Guangzhou Kunpeng Kechuang No.1 Venture Capital Partnership 2.06%|
|Employees:||Approx. 4,000 people (of which 60% engineers)|
|Business Scope:||Development, production and sales of BEVs|
|July 2017:||The Xpeng G3 electric compact SUV, OEM supplied by Haima Automobile, was included in the Ministry of Industry and Information Technology’s “Announcement of Road Motor Vehicle Manufacturers and Products.”|
|September 2017:||Haima Automobile officially announced that it will manufacture automobiles for Xiaopeng Motors (Xpeng). The company added that production will be carried out at a factory jointly owned by the two companies.|
|December 2017:||Construction of the new plant began in Zhaoqing city, Guangdong province.|
|Second half of 2019:||The first phase of the Zhaoqing plant was completed. After completion, the plant is designed to have an annual production capacity of 100,000 units. The plant is expected to officially start operations in 2020.|
|March 2020:||Xpeng’s subsidiary Zhaoqing Xpeng New Energy Investment purchased Guangdong Foday Automobile. Through the purchase, Xpeng acquired Foday’s production license which is needed for automobile production in China.
– Production of the P7 sports car was scheduled to start in April 2020. The G3 is expected to be continued to be OEM supplied by Haima Automobile.