Welcome to our dedicated page for XPeng American depositary shares, each representing two news (Ticker: XPEV), a resource for investors and traders seeking the latest updates and insights on XPeng American depositary shares, each representing two stock.
XPeng Inc., established in 2014, is a prominent Chinese smart electric vehicle (EV) company that designs, develops, manufactures, and markets EVs primarily in China. The company's mission is to create high-quality, cost-effective vehicles that are younger, intelligent, electric, and internet-based. XPeng integrates hardware, software, data, and operations to offer global intelligent travel solutions.
XPeng targets technology-savvy middle-class consumers in the midrange to high-end segments of China's passenger vehicle market. In 2023, the company sold over 141,000 EVs, representing approximately 2% of China's passenger new energy vehicle market. The company is also a leader in autonomous driving technology.
In recent years, XPeng has achieved significant milestones. The company experienced rapid growth since its establishment and, by the end of last year, had a cumulative historical delivery volume exceeding 400,000. In 2023 alone, XPeng delivered more than 140,000 new vehicles.
A key aspect of XPeng's strategy is its entry into the Hong Kong market. This move is part of the company's broader global expansion efforts. In Hong Kong, XPeng has partnered with Sime Darby Motors to bring its latest smart EVs to local consumers through branded showrooms, after-sales support, and comprehensive buying process guidance.
XPeng models such as the pure electric SUV model G6 and the flagship pure electric seven-seater MPV X9 will be among the first to be introduced in Hong Kong, with deliveries starting from Q3. Additionally, XPeng is set to enter Macau with partner XIN KANG HENG HOLDING LTD, offering models like the G9, X9, G6, and P7i.
XPeng has also made strides in technology and innovation. During its AI Day event in May 2024, the company rolled out its AI-powered in-car operating system, XOS 5.1.0 or AI Tianji OS, highlighting its leadership in end-to-end AI model application in the automotive industry. The company aims to achieve nationwide road coverage for its advanced driver-assistance system, XNGP, by the third quarter of this year.
XPeng's commitment to innovation, technology, and customer experience positions it as a key player in the global smart EV market. With headquarters in Guangzhou and offices in Beijing, Shanghai, Silicon Valley, and Amsterdam, XPeng continues to advance its core technologies and expand its market presence.
XPeng Inc. (NYSE: XPEV) announced that its second batch of over 200 G3 smart electric SUVs is en route to Norway, following successful deliveries of the first batch in December 2020. This move marks a significant step in XPeng's international expansion, catering to the growing demand for Smart EVs in Europe. The company recorded a remarkable 470% year-over-year increase in EV deliveries, achieving 6,015 units in January 2021. The G3, priced at approximately 358,000 NKr, features advanced technologies, including XPILOT 2.5 and an optimized in-car experience tailored for Norwegian consumers.
XPeng Inc. (NYSE: XPEV) reported a record delivery of 6,015 Smart EVs in January 2021, a significant 470% increase from January 2020. This marks the third consecutive month of record-breaking deliveries, with 3,710 P7 sedans and 2,305 G3 SUVs. Cumulative P7 deliveries reached 18,772, and G3 deliveries saw a 118% year-over-year increase. The company launched the latest version of its operating system, Xmart OS 2.5.0, enhancing over 200 features and introducing new autonomous driving capabilities, reflecting XPeng's growing market appeal and delivery capabilities.
XPeng Inc. (NYSE: XPEV) has announced a significant over-the-air (OTA) upgrade for its P7 sedan customers in China, marking the most extensive upgrade in its history. The update introduces Xmart OS 2.5.0, featuring over 40 new functions and 200+ optimized features, including advanced autonomous driving assistance and enhanced voice recognition. Key additions include the Navigation Guided Pilot (NGP) for automated navigation and improved safety features. This upgrade aims to enhance customer experience and solidify XPeng's position in the Smart EV market.
XPeng Inc. (NYSE: XPEV) has announced being the first automaker to implement Amap’s 3rd-generation in-car navigation system in its P7 Smart EV sedan. This system features a Surrounding Reality (SR) display for enhanced navigation and assisted autonomous driving. Amap, which boasts over 570 million monthly active users, provides high-precision maps covering 300,000 kilometers of roadways, facilitating advanced lane-level navigation. The Navigation Guided Pilot (NGP) function minimizes driver intervention, reporting an impressive 98.65% success rate in lane changes and overtaking during beta tests.
XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle company, has launched the beta version of its NGP (Navigation Guided Pilot) highway autonomous driving solution during media road tests in Guangzhou. This anticipated feature will be available in the XPILOT 3.0 package on the XPeng P7. The NGP offers improved safety and navigational capabilities, including speed limit adjustments and lane changes. With extensive road testing, it is designed to tackle China's unique driving challenges. The full launch is set for an OTA upgrade before the Chinese New Year in February.
XPeng Inc. (NYSE: XPEV) has signed a strategic cooperation agreement with domestic banks, securing a credit line of RMB12.8 billion. The agreement, which involves five major banks, will enhance XPeng's business operations, manufacturing, and sales capabilities by optimizing cash management and cost control. This partnership underscores the company's robust growth potential, following a successful $900 million pre-IPO and $1.7 billion IPO in 2020. The company has also expanded its sales and service network significantly, with plans to launch a new Smart EV sedan in 2021, showcasing its commitment to technological advancement.
Xpeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle (Smart EV) company, reported record vehicle deliveries for December 2020, achieving 5,700 units, a 326% increase year-over-year. The fourth quarter saw total deliveries of 12,964, marking a 303% increase from the previous year. Xpeng's total deliveries for 2020 reached 27,041, up 112% from 2019. Key contributors to this growth include enhanced brand awareness and expanded service initiatives across China.
Xpeng Inc. (NYSE: XPEV) has commenced deliveries of its G3 smart electric SUVs in Norway, with 100 units reaching customers across 28 cities. This marks a pivotal step in Xpeng's international expansion strategy, primarily targeting mature EV markets. The G3 starts at 358,000 NKr (approx. $41,000) and boasts advanced features, a certified range of 520km, and a high safety rating. CEO He Xiaopeng emphasized the significance of this launch in light of increasing global demand for sustainable transport. Xpeng aims to introduce its P7 electric sedan in Europe within the next year.
Xpeng Inc. (NYSE: XPEV) announced that its P7 super-long range sports sedan received the prestigious Car of the Year 2021 title from the Xuanyuan Awards on December 13. The P7 was evaluated among 40 competing models over four months by industry experts, recognized for its superior human-car experience, innovative software capabilities, and cutting-edge technologies. As Xpeng's second production model, it is notable for being the first L3 autonomy-ready production vehicle in China, featuring a NEDC driving range of 706 km and a 0-100 km/h acceleration time of just 4.4 seconds.
XPeng Inc. (NYSE:XPEV) has successfully closed its underwritten follow-on offering of 55,200,000 American Depositary Shares (ADSs) at $45.00 each, generating approximately $2.5 billion in gross proceeds. The offering included the full exercise of underwriters' options for an additional 7,200,000 ADSs. The funds will be utilized for research and development of Smart EV technologies, marketing, expansion of sales channels, and potential strategic investments. Notably, the Company's registration statement was declared effective by the SEC.
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