{"id":412643,"date":"2021-01-11T22:48:26","date_gmt":"2021-01-12T03:48:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=412643"},"modified":"2021-01-11T22:48:26","modified_gmt":"2021-01-12T03:48:26","slug":"xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/","title":{"rendered":"XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities<\/b><\/p>\n<p>GUANGZHOU, China&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nXPeng Inc. (\u201cXPeng\u201d or the \u201cCompany\u201d, NYSE: XPEV), a leading Chinese smart electric vehicle (\u201cSmart EV\u201d) company, announced it signed a strategic cooperation agreement with leading domestic banks at a signing ceremony held today in Guangzhou, China, pursuant to which it will secure a credit line of RMB12.8 billion with an extensive range of credit facilities (the \u201cAgreement\u201d).\n<\/p>\n<p>\nUnder the terms of the Agreement, five domestic commercial banks including the Agricultural Bank of China, the Bank of China, China Construction Bank, China CITIC Bank and Guangzhou Rural Commercial Bank, will provide credit facilities to support the Company\u2019s business operations and expansion of its manufacturing, sales and service capabilities. These facilities will help the Company optimize the efficiency of its cash management, cost control and other corporate functions.\n<\/p>\n<p>\nThe strategic cooperation with leading banks further diversifies The Company\u2019s funding channels, underscoring its solid business fundamentals and growth prospects.\n<\/p>\n<p>\nThe Company is developing rapidly following its successful $900 million pre-IPO fundraising and $1.7 billion IPO in August 2020.\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nIn December 2020, the Company completed its first public follow-on offering, raising approximately $2.5 billion.\n<\/li>\n<li>\nIn November 2020, the Company\u2019s second manufacturing base broke ground in Guangzhou, making it the first Chinese start-up EV maker with two self-owned factories.\n<\/li>\n<li>\nXPeng\u2019s physical sales &amp; service network has expanded into 58 cities with 116 retail sales stores and 50 service centers, as of September 30, 2020.\n<\/li>\n<li>\nThe number of XPeng-branded supercharging stations has expanded to 135, covering 50 cities, as of September 30, 2020.\n<\/li>\n<li>\nFree supercharging services are provided to XPeng customers at 670 supercharging stations across 100 Chinese cities, since the free-to-use supercharging program was launched in September 2020.\n<\/li>\n<li>\nThe Company delivered a total of 27,041 vehicles in 2020 with a fast-growing customer base that has reached over 40,000.\n<\/li>\n<li>\nThe Company\u2019s third production model \u2013 a new Smart EV sedan slated for official launch and customer delivery in 2021 \u2013 will be equipped with lidar technology, representing a major breakthrough in the mass production deployment of the cutting-edge autonomous driving technology.\n<\/li>\n<li>\nIn December 2020, the Company delivered the first batch of 100 G3 smart SUVs to customers in Norway, representing a milestone for its international business.\n<\/li>\n<\/ul>\n<p>\n\u201cLooking ahead, 2021 presents us with exciting opportunities. We believe the strategic collaboration with these leading financial institutions will enable us to further accelerate growth by building upon our core strengths. With our unwavering commitment to technology innovation and customer services, we look forward to bringing compelling EV experience tailored to our consumers,\u201d said He Xiaopeng, Chairman and CEO of the Company.\n<\/p>\n<p><b>About XPeng<\/b><\/p>\n<p>\nXPeng Inc. is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers\u2019 mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification\/electronic architecture. XPeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley, and San Diego. The Company\u2019s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fen.xiaopeng.com&amp;esheet=52360290&amp;newsitemid=20210111006115&amp;lan=en-US&amp;anchor=https%3A%2F%2Fen.xiaopeng.com&amp;index=1&amp;md5=f9621f76ef3e78c606d7503972a9c2e1\">https:\/\/en.xiaopeng.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210111006115r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210111006115\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210111006115\/en\/<\/a><\/span><\/p>\n<p><b>For Media Enquiries:<br \/>\n<\/b><br \/>Marie Cheung<br \/>\n<br \/>XPeng Inc.<br \/>\n<br \/>+852-9750-5170 or +86-1550-7577-546<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:mariecheung@xiaopeng.com\">mariecheung@xiaopeng.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> China Asia Pacific<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> General Automotive Automotive Alternative Vehicles\/Fuels<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities GUANGZHOU, China&#8211;(BUSINESS WIRE)&#8211; XPeng Inc. (\u201cXPeng\u201d or the \u201cCompany\u201d, NYSE: XPEV), a leading Chinese smart electric vehicle (\u201cSmart EV\u201d) company, announced it signed a strategic cooperation agreement with leading domestic banks at a signing ceremony held today in Guangzhou, China, pursuant to which it will secure a credit line of RMB12.8 billion with an extensive range of credit facilities (the \u201cAgreement\u201d). Under the terms of the Agreement, five domestic commercial banks including the Agricultural Bank of China, the Bank of China, China Construction Bank, China CITIC Bank and Guangzhou Rural Commercial Bank, will provide credit facilities to support the Company\u2019s business operations and expansion of its manufacturing, sales &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-412643","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities GUANGZHOU, China&#8211;(BUSINESS WIRE)&#8211; XPeng Inc. (\u201cXPeng\u201d or the \u201cCompany\u201d, NYSE: XPEV), a leading Chinese smart electric vehicle (\u201cSmart EV\u201d) company, announced it signed a strategic cooperation agreement with leading domestic banks at a signing ceremony held today in Guangzhou, China, pursuant to which it will secure a credit line of RMB12.8 billion with an extensive range of credit facilities (the \u201cAgreement\u201d). Under the terms of the Agreement, five domestic commercial banks including the Agricultural Bank of China, the Bank of China, China Construction Bank, China CITIC Bank and Guangzhou Rural Commercial Bank, will provide credit facilities to support the Company\u2019s business operations and expansion of its manufacturing, sales &hellip; Continue reading &quot;XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-12T03:48:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210111006115r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities\",\"datePublished\":\"2021-01-12T03:48:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\\\/\"},\"wordCount\":604,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210111006115r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\\\/\",\"name\":\"XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities - 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(\u201cXPeng\u201d or the \u201cCompany\u201d, NYSE: XPEV), a leading Chinese smart electric vehicle (\u201cSmart EV\u201d) company, announced it signed a strategic cooperation agreement with leading domestic banks at a signing ceremony held today in Guangzhou, China, pursuant to which it will secure a credit line of RMB12.8 billion with an extensive range of credit facilities (the \u201cAgreement\u201d). Under the terms of the Agreement, five domestic commercial banks including the Agricultural Bank of China, the Bank of China, China Construction Bank, China CITIC Bank and Guangzhou Rural Commercial Bank, will provide credit facilities to support the Company\u2019s business operations and expansion of its manufacturing, sales &hellip; Continue reading \"XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-12T03:48:26+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210111006115r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities","datePublished":"2021-01-12T03:48:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/"},"wordCount":604,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210111006115r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/xpeng-inks-strategic-cooperation-agreement-with-banks-for-rmb12-8-billion-credit-facilities\/","name":"XPeng Inks Strategic Cooperation Agreement with Banks for RMB12.8 Billion Credit Facilities - 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