Shanghai (Gasgoo)- Zhaoqing Xiaopeng Motors Co.,Ltd. (Zhaoqing Xiaopeng), a subsidiary of Chinese EV startup Xpeng Motors, has been given green light to expand its assembly line, targeting an annual capacity of 100,000 new energy passenger vehicles upon completion of the project, according to the corporate data platform Tianyancha.
Tianyancha's records also show that registered capital of the subsidiary rose to 1.5 billion yuan ($223,890,600) from 500 million yuan ($74,630,200) at the end of October. Meanwhile, the rental of non-residential real estate, mechanical equipment and warehousing facilities has been added to its line of businesses.
Founded in May 2017, Zhaoqing Xiaopeng has a business scope extending to cover the development, manufacturing and sale of complete vehicles and auto parts, the technical development of auto-related intelligent system, the car rental service and other businesses.
Xpeng P7; photo credit: Xpeng Motors
Xpeng Motors broke ground in December 2017 on its Zhaoqing manufacturing plant, and completed the construction in September 2019 with the pre-production starting at the same time.
On May 19, 2020 the factory received the official production license from China's Ministry of Industry and Information Technology.
The first model produced at the Zhaoqing plant is the P7 electric sedan, Xpeng's second mass-produced model that hit the market on April 27. On October 20, the 10,000th P7 rolled off the production line, only five months after the birth of the first one.
Xpeng delivered a total of 3,040 EVs in October 2020, consisting of 2,104 P7 sedans and 936 G3s SUVs. The company's October deliveries represented a 229% year-on-year increase.
As of October 31, 2020, Xpeng's year-to-date deliveries reached 17,117 units, surging 64% from a year ago.
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