Xpeng Motors Receives 12.8 Billion Yuan Comprehensive Credit from Five Major Banks


On the morning of January 12, we learned from officials that Xpeng Motors has formally reached a strategic partnership with five banks in Guangdong Province and will cooperate in promoting the sustainable development and construction of banks and enterprises. The two parties announced at the signing ceremony that the five banks will jointly provide Xpeng Motors with a total credit line of RMB 12.8 billion to support Xpeng Motors’ business operations and the construction of its production and sales service system.

As the first echelon of Chinese EV startup, Xpeng Motors has obtained multiple financing through capital operations in the past year. On August 27, 2020, Xpeng Motors officially landed on the New York Stock Exchange, and raised US$1.7 billion after using the green shoes. On December 11, 2020, Xpeng Motors announced the completion of the first additional issuance after listing, with a financing amount of 2.5 billion US dollars.

As of September 30, 2020, Xpeng Motors’ sales and service network has included 116 sales outlets and 50 service outlets, covering 58 cities. At present, the cumulative delivery volume of Xpeng Motors has exceeded 40,000.