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Core Asset Wealth team excited about XPeng strategic partnership news

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Core Asset Wealth Management
The team at Core Asset Wealth Management are excited to hear that XPeng has signed a strategic cooperation agreement

SEOUL, South Korea - Amzeal -- The team at Core Asset Wealth Management are excited to hear that XPeng has signed a strategic cooperation agreement with agricultural bank of china, securing RMB7.5 billion credit facilities.

XPeng Inc. ("XPeng" or the "Company"), a leading Chinese smart electric vehicle company, today announced that it has signed a strategic cooperation agreement with the Agricultural Bank of China ("ABC") Guangdong Branch, pursuant to which the Company will secure a comprehensive credit line of up to RMB7.5 billion for its subsidiaries and affiliates in China (the "Agreement").

"We are very pleased with the Agreement, with terms demonstrating the financial institution's strong trust in our solid business fundamentals and growth prospects. As we pursue rapid technology and product iterations, we will continue to strengthen our product competitiveness and bring compelling EV experience to our consumers," said Mr. He Xiaopeng, Chairman and CEO of XPeng.

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XPeng Major holders

Insiders own 6.83% of the company shares, while shares held by institutions stand at 35.88% with a share float percentage of 38.51%.

Investors are also buoyed by the number of investors in a company, with XPeng Inc. having a total of 532 institutions that hold shares in the company.

The top two institutional holders are
  • l FMR, LLC with over 20.53 million shares worth more than $1.03 billion.
  • l Blackrock Inc., with  over 19.6 million shares  worth more than $986.26 million

XPeng History

XPeng was co-founded in 2014 by Henry Xia and He Tao. Initial backers included: The founder of UCWeb, Former Alibaba executives, Current Chairman of XPeng, Lei Jun and also The founder of Xiaomi.

XPeng started production of its first model, the XPeng G3 SUV, in November 2018. It launched the G3 in December 2018 at the 2018 Consumer Electronics Show in Las Vegas. Its second model, the P7, a four-door electric sedan, premiered in April 2019 at the 2019 Auto Shanghai show and started deliveries to customers in June 2020.In May 2019, XPeng launched a vehicle for hire company with its own vehicles to serve Guangzhou.

For more information on XPeng visit us at www.acg-wealth.com/news.html

Jihun Lee

Source: Core Asset Wealth Management
Filed Under: Technology, Financial

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