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
THE XIAOPENG ELECTRIC CAR STRATEGY IN THE NEWS
Week 29 2018 - Xpeng funding round to raise $600m
The four-year-old EV start-up Xpeng Motors Technology which openly targets Tesla in China is raising $600 million this month, valuing the company at $4 billion. Xpeng was founded by He Xiaopeng who sold his UCWeb internet browsing company to Alibaba develops “internet connected smart cars” or more fondly called a smartphone on wheels. Chinese analysts favor EV start-ups such as Xpeng’s chances above that of Tesla. According to various analysts, Tesla has squandered its opportunity by arriving late in China while EV start-ups in the country are benefiting from political goodwill and learning from Tesla’s mistakes. Tesla had the opportunity to enter China in 2014 when the Pudong district proposed for the company to establish there. Tesla did not take the offer as it insisted on sole ownership which at the time was not possible.
He Xiaopeng saw early on that big data generated through autonomous electric mobility would be monetized through apps and services and founded Xpeng while still being employed at Alibaba. Xpeng’s first production EV, the Xpeng G3, started out as the Identity X Concept EV and was unveiled at the 2018 Las Vegas CES. The first 100 cars assembled by Haima was given to staff in October 2017 and is expected to be commercially available late 2018.
The Xpeng G3’s DNA includes voice controls, streaming music, live video, driver-tracking maps and a 360-degree camera with which you can stream the landscape around you to friends via social media.
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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