XPeng Inc. (XPEV) Signs Agreement to Double Zhaoqing Plant Annual Production Capacity to 200K Units

XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle (Smart EV) company, announced today it has signed an agreement with the Zhaoqing Municipal Government and the Zhaoqing High Technology Industry Development Zone to build the Phase Two expansion project of the XPeng Zhaoqing Smart EV Manufacturing Base (“Zhaoqing Base”) located in Guangdong Province.

The Company today officially kicked off the Phase Two expansion project at a signing ceremony co-hosted with the Zhaoqing Municipal Government and the Zhaoqing High Technology Industry Development Zone.

Upon completion, the Phase Two expansion project will increase the design production capacity at the Zhaoqing Base from 100,000 units to 200,000 units per annum with the financial and land use support from the local government. The expansion will position XPeng well in capturing the anticipated increasing consumer demand for its smart EVs.

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