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.
Xiaopeng joins other tech-based companies such as Singulato with plans to develop “internet” cars.
XPENG EV MODELS
XIAOPENG EV SALES
Go to our detailed breakdown of Global EV Sales to see how the Xiaopeng electric car strategy fares to its competitors in the fast-growing EV market.
THE XIAOPENG ELECTRIC CAR STRATEGY IN THE NEWS
Week 5 2018 - Successful funding round for Xiaopeng
The entry of technology companies in the auto sector is further fragmenting the Chinese auto market where funds are flowing to start-ups instead of traditional auto brands. Alibaba and Apple supplier, Foxconn, this week led a further investment round in EV start-up Xiaopeng with a 2.2 billion yuan ($349 million) investment bringing total investments in X-Peng to $800 million. X-Peng plans to bring its connected EV, the G3 Crossover, to market later this year. Haima was contracted to use its spare capacity to assemble the G3, formally know as the X-Peng Identity X, through to 2019.
Week 41 2017 - First Xiaopeng outsourced produced EV expecetd by end 2017
Production plans for the Chinese Internet Car company, Xiaopeng, has been finalized and is set to start this year. In a similar agreement as that of JAC and NIO, the Chinese start-up outsourced the production of its vehicles this week with the signing of an agreement with Haima to build 50,000 electric vehicles over the next four years. Haima has been involved with Xiaopeng since 2016 building a beta version of the first vehicle, the Xpeng Identity X crossover. The contract could not have come at a better time for Haima, which saw its sales drop nearly 30% for the year to date. The Identity X will be rolling of the Haima assembly line form this year. Earlier NIO entered into a $1.5 billion agreement with JAC to produce EVs on its behalf starting with the NIO ES8 expected in 2018.
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