On the morning of January 12th, XPeng Motors announced that it has officially established a strategic partnership with five banks in Guangdong Province, China, and signed a cooperation agreement.
The banks involved in this strategic cooperation signing are: the Guangdong Branch of Agricultural Bank of China, the Guangdong Branch of Bank of China, the Guangdong Branch of China Construction Bank, the Guangzhou Branch of China CITIC Bank, and Guangzhou Rural Commercial Bank.
Based on the strategic cooperation, the five banks will jointly provide XPeng Motors with a total credit line of RMB 12.8 billion to support the company’s business operations, production, and service system construction.
Previously, on August 27th, 2020, XPeng Motors was listed on the New York Stock Exchange and raised $1.7 billion. On December 11th, 2020, XPeng Motors announced its first post-IPO additional issuance, with a financing amount of $2.5 billion.
Source: XPeng Motors
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.