The Chinese manufacturer of electric cars Xpeng has announced a strategic cooperation agreement with the five main national banks guaranteeing a credit line worth 12.8 billion yuan (about 1,630 million euros at the current exchange rate) and, therefore, “the expansion of its manufacturing, sales and service capacities”, has assured the brand.
The agreed financing comes specifically from the big five Chinese state banks: Agricultural Bank of China, People’s Bank of China, Construction Bank of China, China Citic Bank and Guangzhou Rural Commercial Bank, which have also provided loans to brands such as NIO and Tesla.
This injection of capital comes after the brand raised more than € 4 billion between your initial public offering (IPO) on the New York Stock Exchange in August and December. Since that IPO, the value of Xpeng’s shares has grown 195%.
Although the brand does not spell out for now specifically what it will allocate the more than 1,600 million euros to, the open fronts by the brand there are currently several.
Its flagship and expansion to Europe, in process
For one, he recently announced a new electric car, a saloon that will be positioned as its flagship and will be equipped with a sensor Lidar to enable autonomous driving, so that a strong economic outlay is presupposed for its development.
Before, in November 2020, the construction of the company’s second factory in Guangzhou (China), adding 116 sales stores and 50 service centers spread over 58 cities.
Xpeng, founded in 2014, has two models for sale and the aforementioned upcoming smart saloon, coming down. In addition, the Chinese firm already has a commercial presence in Europe through the Norwegian market, where since last December markets he Xpeng G3 with a starting price of 33.700 euros. Soon, the P7 will arrive in the Old Continent.
Xpeng closed 2020 with 27,041 cars sold and already warns: “Looking ahead, 2021 presents us with interesting opportunities.” We will have to track them down.
- Electric cars
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