XPENG to Expand in A-class Smart EV Segment through Strategic Partnership with DiDi
27 Agosto 2023 - 9:30PM
Business Wire
- XPENG aims to launch an A-class Smart EV model under a new
brand in 2024, currently being developed under the project name
“MONA”
- XPENG and DiDi have formed a strategic partnership to
accelerate the adoption of Smart EV and technologies in the mass
market segment
- XPENG will issue Class A ordinary shares of the Company,
representing approximately 3.25% of the Company's outstanding share
capital upon completion of the issuance, to acquire assets related
to DiDi's Smart EV project
XPENG Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX:
9868), a leading Chinese smart electric vehicle (“Smart EV”)
company, today announced its strategy to accelerate the adoption of
Smart EVs and technologies through a strategic partnership with
DiDi Global Inc. (“DiDi”), the world’s leading mobility technology
platform.
The Company plans to launch an all-new EV brand in 2024,
currently being developed under the project name “MONA”. The
Company will leverage the new brand to expand in the mass market
segment of RMB150,000 price range and accelerate the adoption of
Smart EV and technologies in this segment with enormous market
potential. Project "MONA" will accelerate the Company's production
and sales growth and help achieve greater economies of scale.
An A-class Smart EV model will be launched in 2024 as the debut
product of the Company's new brand. The new model and brand will be
differentiated from XPENG-branded products and the main brand. DiDi
will provide support from its mobility ecosystem for the "MONA"
project with access to its nationwide shared mobility market. This
partnership will pave the way for the Company to build highly
popular Smart EV models for the mass market segment in the
RMB150,000 price range.
XPENG will issue Class A ordinary shares of the Company,
representing approximately 3.25% of the Company's outstanding share
capital upon completion of the issuance, to acquire assets related
to DiDi's Smart EV project. DiDi will thereby become a strategic
shareholder of the Company, with a lock-up period of 24 months
after the initial closing. Furthermore, the agreement between the
Company and DiDi also establishes performance-based incentive
mechanisms based on the mass production of "MONA" and sales volume
targets to be fulfilled by Didi, subject to which DiDi will be
entitled to receive share-based incentives.
According to the agreement, XPENG will become the first
automotive manufacturing company with comprehensive support from
the ecosystem of DiDi. Both parties will explore strategic
cooperation in a number of areas, including marketing, financial
and insurance services, charging, Robotaxi and international market
expansion.
"As a world’s leading mobility technology platform, DiDi shares
XPENG’s vision of shaping the mobility experience of the future
with technology. XPENG's A-class Smart EV products under the new
brand will not only significantly increase our scale, but also
accelerate the adoption of our Smart EV technologies in the mass
market segment, bringing our technologies to a much broader
customer base," said Mr. He Xiaopeng, Chairman and CEO of XPENG.
"Furthermore, both parties will explore cooperation opportunities
in various areas. XPENG will continue to create value and capture
growth opportunities in the mobility ecosystem as well as in
autonomous driving."
Mr. Cheng Wei, Chairman and CEO of DiDi, said, "DiDi has been
dedicated to promoting shared, electric, and smart mobility. XPENG
has established its leadership position in the Smart EV
technologies and intelligent driving technologies. We will continue
to deepen our cooperation with XPENG in multiple areas, driving
transformation of the transportation and automotive
industries."
About XPENG XPENG is a leading Chinese Smart EV company
that designs, develops, manufactures, and markets Smart EVs that
appeal to the large and growing base of technology-savvy
middle-class consumers. Its mission is to drive Smart EV
transformation with technology, shaping the mobility experience of
the future. In order to optimize its customers’ mobility
experience, XPENG develops in-house its full-stack advanced
driver-assistance system technology and in-car intelligent
operating system, as well as core vehicle systems including
powertrain and the electrical/electronic architecture. XPENG is
headquartered in Guangzhou, China, with main offices in Beijing,
Shanghai, Silicon Valley, San Diego and Amsterdam. The Company’s
Smart EVs are mainly manufactured at its plants in Zhaoqing and
Guangzhou, Guangdong province. For more information, please visit
https://heyXPENG.com.
About DiDi Global Inc. DiDi Global Inc. is the world’s
leading mobility technology platform. It offers a wide range of
app-based services across Asia Pacific, Latin America and other
global markets, including ride hailing, taxi hailing, chauffeur,
hitch and other forms of shared mobility as well as auto solutions,
food delivery, and intra-city freight services.
Safe Harbor Statement This announcement contains
forward-looking statements. These statements are made under the
“safe harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as “will,” “expects,”
“anticipates,” “future,” “intends,” “plans,” “believes,”
“estimates” and similar statements. Statements that are not
historical facts, including statements about XPENG’s beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: XPENG’s goal and strategies; XPENG’s
expansion plans; XPENG’s future business development, financial
condition and results of operations; the trends in, and size of,
China’s EV market; XPENG’s expectations regarding demand for, and
market acceptance of, its products and services; XPENG’s
expectations regarding its relationships with customers, suppliers,
third-party service providers, strategic partners and other
stakeholders; general economic and business conditions; and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks is included in XPENG’s
filings with the United States Securities and Exchange Commission.
All information provided in this announcement is as of the date of
this announcement, and XPENG does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230827958258/en/
For Investor Enquiries: IR Department XPeng Inc. Email:
ir@xiaopeng.com
Jenny Cai Piacente Financial Communications Tel: +1 212 481 2050
/ +86 10 6508 0677 Email: xpeng@tpg-ir.com
For Media Enquiries: PR Department XPeng Inc. Email:
pr@xiaopeng.com
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