Xiaopeng Automobiles is a Chinese Internet Car company funded in July through a 2.2 billion yuan investment by the Shenzhou SPV fund focussed on the auto industry, UCAR Capital. Internet cars depend on internet infrastructure strengthened by burst points in cities, which is well established in China. From 2014 to 2017 there has been a total of nine players in the Chinese market, including the development of the Alibaba/SAIC RX5, the Youxia Ranger, Tencent’s Future Mobility, Wei Lai and Foxconn. The nine participants carried out 18 financing rounds totaling an investment of 25 billion yuan but have been dogged by failures resulting in losses such as the Youxia Ranger, LeSee, and Wei Lai.
Xiaopeng, which first introduced the Identity September 2016, has partnered with Haima OEM in producing its first vehicle, the beta Identity X. A small batch of 100 pilot vehicles is expected by the end of 2017. In early May 2017, Xiaopeng announced it would settle its electric vehicle manufacturing base in the high-tech industrial area of Zhaoqing City, Guangdong Province for a total investment more than 10 billion yuan.The plant, which construction will commence in the second half of 2017, has an annual capacity of 100,000 and start mass production in 2019. Xiaopeng’s president is Mr. Xia Heng and vice-president He Tao.
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