This Alibaba-backed EV firm starts sedan production at new plant, eyes expansion

Xpeng's new plant, in China's southern city of Zhaoqing, will initially make P7 sedans. The company has been building G3 sports utility vehicles in Zh
...
FILE PHOTO: People look at XPeng's P7 sedan model displayed at the Guangzhou auto show in Guangzhou, Guangdong province, China November 22, 2019. (REUTERS)
FILE PHOTO: People look at XPeng's P7 sedan model displayed at the Guangzhou auto show in Guangzhou, Guangdong province, China November 22, 2019.

Chinese electric vehicle (EV) maker Xpeng, backed by Alibaba Group Holding Ltd and Xiaomi Corp, said on Tuesday it has started producing its new P7 sedan at its fully-owned Zhaoqing car plant after receiving a government production licence.

Xpeng spent 3 billion yuan ($422 million) on the P7 sedan project and the firm has been investing 700 million yuan each year on intelligent vehicle research and development, Xpeng's chief executive He Xiaopeng told Reuters in an interview.

Also check these Cars

Find more Cars
Mg 4 Ev (HT Auto photo)
UPCOMING
BatteryCapacity Icon64kWh Range Icon350 km
₹ 30 - 32 Lakhs
View Details
Tata Sierra Ev (HT Auto photo)
UPCOMING
BatteryCapacity Icon69 kWh Range Icon420 Km
₹ 25 - 30 Lakhs
View Details
Tata Harrier Ev (HT Auto photo)
UPCOMING
BatteryCapacity Icon50 kWh Range Icon400 Km
₹ 22 - 25 Lakhs
View Details
Honda Elevate Ev (HT Auto photo)
UPCOMING
₹ 18 Lakhs
View Details
Tata Punch Ev (HT Auto photo)
BatteryCapacity Icon35 Kwh Range Icon421 km
₹ 10.99 - 15.49 Lakhs
Compare
View Offers
Mg Comet Ev (HT Auto photo)
BatteryCapacity Icon17.3 kWh Range Icon230 km
₹ 7.98 - 9.98 Lakhs
Compare
View Offers

The EV maker, which began mass-delivery of its G3 sports utility in March 2019, also plans to expand its showroom network in China, the world's biggest auto market, to over 200 stores by the end of the year from about 150 sites now, he said.

Also Read : Meet Xpeng P7 sedan: China's answer to Tesla Model 3

The company would have have "some funding activities in the third or fourth quarter this year," he added, but did not give further details.

The new plant, in China's southern city of Zhaoqing, will initially make Xpeng's P7 sedans. The Guangzhou-based company has been building the G3 sports utility in Zhengzhou at a plant owned by Haima Automobile.

He said Xpeng has secured a large batch of car parts in February and March, which would shield the company from the current disruption to the global auto parts supply chain.

Xpeng, which raised $400 million last November, sold 3,564 vehicles in the first four months of this year.

First Published Date: 19 May 2020, 14:24 PM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.