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China

XPeng Signs An Agreement For The Zhaoqing Smart EV Manufacturing Base Phase Two Expansion Project, Which Will Increase Annual Design Production Capacity From 100,000 To 200,000 Units.

XPeng Inc., a leading Chinese smart electric vehicle (Smart EV) company, announced it has signed an agreement with the Zhaoqing Municipal Government and the Zhaoqing High Technology Industry Development Zone to build the Phase Two expansion project of the XPeng Zhaoqing Smart EV Manufacturing Base (“Zhaoqing Base”) located in Guangdong Province.

The Company today officially kicked off the Phase Two expansion project at a signing ceremony co-hosted with the Zhaoqing Municipal Government and the Zhaoqing High Technology Industry Development Zone.

Upon completion, the Phase Two expansion project will increase the design production capacity at the Zhaoqing Base from 100,000 units to 200,000 units per annum with the financial and land use support from the local government. The expansion will position XPeng well in capturing the anticipated increasing consumer demand for its smart EVs.

About XPeng Inc.

XPeng 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’ 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 main offices in Beijing, Shanghai, Silicon Valley and San Diego. The Company’s Smart EVs are manufactured at its plant in Zhaoqing, located in Guangdong province.