writer: Eric Walz
The Xpeng P5 fastback was launched in Sept 2021. It was the corporate’s third EV.
Electrical car startup XPeng Inc introduced that its shares can be included within the Shenzhen-Hong Kong Inventory Join Program, which is able to enable traders in mainland China to purchase shares of the corporate for the primary time.
XPeng launched its U.S. IPO in Aug 2020 then adopted that with an IPO in Hong Kong in June 2021. On the time, XPeng stated itemizing on the Hong Kong inventory alternate would assist the corporate elevate $1.eight billion to broaden its product line-up and develop new applied sciences.
XPeng raised $1.5 billion with its U.S. IPO in Aug 2020.
Now with its inclusion within the Shenzhen-Hong Kong Inventory Join Program, XPeng will have the ability to elevate capital from traders in China, giving the electrical automaker extra broad publicity within the world monetary markets.
Below the Inventory Join program, certified Mainland Chinese language traders can entry eligible Hong Kong shares, though they’re topic to specified day by day quotas.
The Inventory Join packages are a collaboration between the Hong Kong, Shanghai and Shenzhen inventory exchanges. The Inventory Connects enable worldwide and mainland Chinese language traders to commerce securities in one another’s markets by way of the buying and selling and clearing amenities of the taking part exchanges.
The inclusion will assist XPeng elevate extra capital, making the most of the robust investor curiosity in electrical car shares and associated corporations. The excitement round EV shares helped make Tesla’s the world’s most dear automaker in 2021 with a market cap that topped $1 trillion.
“We’re happy to be included within the Inventory Join packages, which allow certified Mainland Chinese language traders to have direct entry to our shares by way of the Inventory Exchanges within the Mainland,” stated Brian Gu, Vice Chairman and President of XPeng. “The inclusion is not going to solely additional broaden and diversify our investor base but additionally present the chance for our clients, companions and EV and know-how traders in China to take part in our thrilling development story.”
Xpeng grew to become the primary EV firm to attain a dual-primary itemizing on each the New York Inventory Change and the Hong Kong Inventory Change on July 7, 2021, after its shares started buying and selling in Hong Kong.
XPeng was based in 2014 and is one of China’s hot new EV startups together with rivals NIO Inc. and Li Auto. All three corporations are actually publicly traded within the U.S. XPeng is backed by Chinese language e-commerce large Alibaba.
XPeng got down to make fully-electric autos full of superior know-how which might be extra inexpensive than a Tesla mannequin in China. The corporate stated it was impressed by the rise of Tesla and even studied lots of the automaker’s open supply patents when designing its electrical autos, which price roughly half the value for a similar degree of know-how.
XPeng ranked highest amongst China’s new vitality car (NEV) startups by annual registrations with a year-on-year increase of 490% in 2021.
In Nov 2021, XPeng unveiled its fourth electrical car, the flagship G9 SUV, on the 19th Guangzhou Worldwide Car Exhibition. The G9 is without doubt one of the most superior electrical autos designed by Xpeng.
The G9 is XPeng’s first full-size electrical SUV and was conceived and designed from the outset for each home Chinese language and worldwide markets as the corporate continues its growth outdoors of its house nation of China.
Xpeng’s first car was the compact G3 SUV, which launched in 2018. XPeng adopted up the G3 with the flagship P7 smart sedan in 2020. The P7 is a robust competitor to Tesla’s Mannequin S in China, providing the identical degree of know-how, including autonomous driving capabilities, for round half the value.
Deliveries of XPeng’s third car, the P5 fastback, started in Sept 2021. The P5 was recognized as the world’s first production vehicle equipped with automotive-grade lidar technology to help autonomous driving.
In Oct 2021, XPeng reached a serious milestone and celebrated the production of its 100,000th electric vehicle. The 100,000th car was a P7 sedan. It rolled off the meeting line at XPeng’s wholly-owned Zhaoqing Good EV Manufacturing Base.
XPeng broke floor on the second section of its Zhaoqing manufacturing facility final summer time, which is able to ultimately assist the corporate double its manufacturing capability as the corporate prepares for development outdoors of its house nation of China.
XPeng’s U.S shares are listed on the New York Inventory Change underneath the image “XPEV”. The inventory worth is up practically 10% to $40.75 on Wednesday following the announcement of its inclusion within the Hong Kong Inventory Join Program.
