XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”), announced today that it has entered into a Memorandum of Understanding (“MoU”) with Zhongsheng. Group (“Zhongsheng”, HKEX: 0881), a leading car dealership group in China, to establish a long-term strategic partnership to provide both XPeng’s leading Smart EV products and Zhongsheng’s high quality services to consumers, thus further accelerating Smart EV adoption in China.
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XPeng smart EV fleet
Through the partnership, the company will leverage Zhongsheng’s established dealer network and expertise to serve consumers from medium to high vehicles to further accelerate XPeng’s sales growth, and its ability to strengthen after-sales services.
Under the partnership, Zhongsheng Group will invest and operate in authorized XPeng brands to deliver smart EV sales and services. Such sales and service facilities will only be introduced in 2021 in cities 1 or high potential in China.
Looking ahead, both parties will also explore more strategic collaboration opportunities in business model innovations, which create competitive long-term benefits and value propositions to exploit great growth potential in the Chinese Smart EV market.
“Consumer demand for high-quality smart EVs is stimulating rapid market growth in China,” said He Xiaopeng, chairman and CEO of XPeng. “By partnering with Zhongsheng, we can accelerate the expansion of our sales and service network and enhance XPeng’s differentiated Smart EV products and advanced autonomous customer management capabilities. The partnership will further enhance our brand awareness, and we Making Smart EVs accessible to a ‘I believe that the long-term strategic partnership with Zhongsheng will strengthen our leadership in the fast-growing Smart EV sector in China.’
“Based on our strong group performance, a strong mix of brands in our portfolio and a nationwide network of dealers with more than 5 million customers in China, we are excited to take another step towards our industry towards EVs. to accept, “said Huang Yi, chairman of Zhongsheng. “We are proud to enter into a national strategic partnership with XPeng to accelerate their sales and deliver high quality services to their customers. This partnership will be the realization of Zhongsheng’s New Energy Vehicle Strategy, which we initiated in Q4 2020. “I strongly believe that the close cooperation between one of the leading manufacturers of smart premium EVs and one of the largest car dealer groups worldwide, will make a significant contribution to our mutual growth and sustainable mobility.”
More about XPeng Inc.
XPeng 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 technologically smart 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 customers’ mobility experience, XPeng is developing its autonomous in-car driving technology and intelligent operating system, as well as core vehicle systems, including power source and electrification / electronic architecture. XPeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley, and San Diego, USA. The company’s Smart EVs are manufactured in factories in Zhaoqing and Zhengzhou, Guangdong and Henan provinces respectively. Visit https://en.xiaopeng.com for more information.
ABOUT ZHONGSHENG
Zhongsheng Group is a leading national car distribution group in China, mainly engaged in one-stop services, including sales of new and used cars, after-sales, repairs, parts and accessories, financial, insurance and rental services. The company currently has car brands, consisting of luxury car brands, including Mercedes-Benz, Lexus and Audi, and medium to high-end car brands, including Toyota, Nissan and Honda.
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 1995. These forward-looking statements can be identified by terminology such as “will”, “expect”, “expect”, “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 may cause actual results to differ materially from those of any forward-looking statement, including but not limited to the following: XPeng’s objectives 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 the demand for, and acceptance of the market, of its p products and services; XPeng’s expectations regarding its relationships with customers, contractors, 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 contained in XPeng’s submission to the SEC. All information provided in this press release is from the date of this press release, and XPeng undertakes no obligation to update any forward-looking statement, except as required by applicable law.
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XPeng Inc.
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