XPENG Now on Fortune China's "Tech 50" and "China 500" Lists

Rhea-AI Summary

XPENG has been listed on both the Fortune Tech 50 and Fortune China 500 lists, marking significant recognition for its technological innovation. The company was one of only two automotive companies featured on the Tech 50 list, acknowledged for its AI-defined mobility technology and autonomous driving achievements. XPENG recently developed the Turing Chip, the world's first AI chip for AI-defined vehicles, and established a strategic partnership with Volkswagen. The company has expanded to over 30 countries and aims for overseas markets to represent 50% of total sales in the next decade.

Positive

• Strategic partnership with Volkswagen for electronic architecture development
• Successful development of proprietary Turing Chip for AI-defined vehicles
• Expansion into over 30 countries and regions
• Recognition on prestigious Fortune Tech 50 and Fortune China 500 lists
• Commenced pre-orders for AI-powered P7+ car

Negative

• None.

• XPENG ranked among the "Fortune Tech 50" and "Fortune China 500" lists for leading AI mobility innovation
  

SHANGHAI, China, Oct. 30, 2024 (GLOBE NEWSWIRE) --  XPENG, a leading Chinese high technology car company, is proud to announce that it has secured places on both the "Fortune Tech 50" and "Fortune China 500" lists. The placings were announced during the Fortune China "Tech 50 Innovation Night" and "2024 Fortune China 500 Summit" on October 16 and 17, hosted in Shanghai. XPENG is glad to receive these esteemed accolades that reaffirm its competitive advantage and status as a leader in technological innovation.

"Fortune Tech 50" is an inaugural list by Fortune China that spotlights Chinese tech companies making a global impact. Companies are judged based on technical innovation, as well as their global economic influence and positive social impact. XPENG was one of only two automotive companies to make the list, thanks to its pioneering AI-defined mobility technology, autonomous driving breakthroughs, and industry-leading AI model applications.

Fortune China praised XPENG for its edge in smart driving technology. "XPENG is a formidable competitor in the sector as the race for dominance in autonomous driving intensifies. Innovation fueled by technology is the foundation of XPENG's strategy - in May, XPENG announced the mass production of its end-to-end AI model. Rolled out to users through the AI-powered Tianji XOS system, XPENG calls the model 'the first system in the industry to apply AI technology to both smart cockpit and ADAS systems.' In July, XPENG entered a strategic partnership with Volkswagen to co-develop electronic and electrical architecture technology. The partnership leverages both companies' technological advantages to expand their market influences, a move seen as a pivotal moment in XPENG's expansion," the publication stated in its remarks.

Fortune China is a business publication of global renown, and its annual "Global 500" list is one of the most prestigious benchmarks for corporations. Enlisting the same methodology for its global counterpart, the "2024 Fortune China 500" ranking covers both public and private companies from the Chinese mainland, Hong Kong, and Taiwan. XPENG's inclusion in the "2024 Fortune China 500" underscores its forward-thinking approach in AI applications and global expansion, setting a milestone for the global smart automotive industry.

Founded 10 years ago, XPENG has long adhered to its brand vision of being an "Explorer of Future Mobility" by leveraging technology to transform how people travel. The company has since made significant strides in AI applications and is poised to lead the industry in the coming decade. XPENG's self-developed Turing Chip, the world's first AI chip designed for AI-defined vehicles, robots, and flying cars, has been successfully taped out, and pre-orders have commenced for XPENG's AI-powered P7+ car. Over the next decade, XPENG aims to become a global AI mobility leader and develop an AI ecosystem based on five key pillars: high-performance chips, AI models, AI-defined vehicles, robots, and flying cars, where the first two will serve as foundations for the latter three.

XPENG's investments in intelligent driving technology over the past decade are bearing fruit. The company believes it plays a critical role in the ongoing electric vehicle revolution on a global scale. To date, XPENG has expanded its sales to over 30 countries and regions. As part of its global strategy, XPENG is now focused on scaling up its international operations, with plans to enhance its global R&D and sales presence. In the next ten years, XPENG aims for overseas markets to account for half of its total sales, significantly expanding its global user community.

XPENG's increasing recognition by prestigious global business publications stands testament to its exceptional innovation capabilities and global outlook. Looking ahead, XPENG remains committed to its global market strategy and is well-positioned to continue spearheading global development towards an era of AI-defined mobility.

About XPENG

Founded in 2014, XPENG is a leading Chinese AI-driven mobility company that designs, develops, manufactures, and markets Smart EVs, catering to a growing base of tech-savvy consumers. With the rapid advancement of AI, XPENG aspires to become a global leader in AI mobility, with a mission to drive the Smart EV revolution through cutting-edge technology, shaping the future of mobility.

To enhance the customer experience, XPENG develops its full-stack advanced driver-assistance system (ADAS) technology and intelligent in-car operating system in-house, along with core vehicle systems such as the powertrain and electrical/electronic architecture (EEA). Headquartered in Guangzhou, China, XPENG also operates key offices in Beijing, Shanghai, Silicon Valley, and Amsterdam. Its Smart EVs are primarily manufactured at its facilities in Zhaoqing and Guangzhou, Guangdong province.

XPENG is listed at the New York Stock Exchange (NYSE: XPEV) and Hong Kong Exchange (HKEX: 9868).

For more information, please visit https://www.xpeng.com/.

Contacts:

For Media Enquiries:
XPENG PR Department
Email: pr@xiaopeng.com

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/41f3a26a-a1ed-48bb-bd97-7b36311f0939
https://www.globenewswire.com/NewsRoom/AttachmentNg/3111c8d9-9d2e-419b-aa68-51fb54ed7f8f
https://www.globenewswire.com/NewsRoom/AttachmentNg/8f5503fe-9c37-46e2-a97b-e448ad9dbd02

Video accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/32cbdaf4-f03c-4887-a5c0-f79d3448ce43

FAQ

What major lists was XPEV recently included in?

XPENG (XPEV) was included in both the Fortune Tech 50 and Fortune China 500 lists, announced during events in Shanghai on October 16-17, 2024.

What is XPEV's international expansion target?

XPENG (XPEV) aims for overseas markets to account for 50% of its total sales within the next ten years.

What significant partnership did XPEV announce in 2024?

XPENG (XPEV) entered a strategic partnership with Volkswagen in July 2024 to co-develop electronic and electrical architecture technology.

What is XPEV's latest technological achievement?

XPENG (XPEV) successfully developed and taped out the Turing Chip, the world's first AI chip designed specifically for AI-defined vehicles, robots, and flying cars.