On June 23, Bloomberg cited sources familiar with the matter that Xpeng Motors had been approved by the Hong Kong Stock Exchange for listing. The Hong Kong Stock Exchange disclosed the Xpeng Motors post-hearing data collection. The key information is as follows:
Product Timeline
- G3: Delivery started from December 2018, as of March 31, 2021, 30,102 G3 have been delivered to customers.
- P7: Delivery started from May 2020, as of March 31, 2021, 23,036 P7 have been delivered to customers.
- P7 Wing Limited Edition: Delivery started in March 2021.
- LFP Models: In March 2021, Xpeng launched new models of G3 and P7 with lithium iron phosphate batteries.
- P5: Xpeng launched P5 in April 2021, and plans to start mass delivery in 2021Q4.
- G3 Facelift: Xpeng plans to start delivering G3 facelift, G3i, at the end of 2021Q3.
- New Model: Xpeng plans to launch its fourth smart electric car in 2022, an SUV with an ADAS and an enhanced core vehicle system.
The 4th Model
The new car is based on Edward, which is the same platform as the P7. Therefore, the wheelbase of the new car is between 2,800 mm and 3,100 mm. It will be equipped with an advanced driving assist system and lidar, and is able to support XPILOT 4.0.
Xpeng Motors stated that the core vehicle system of the new model will be enhanced to provide fast charging, more comprehensive domain control units, and stronger OTA capabilities. The car will be equipped with smart chassis and air suspension system.
According to the delivery time and price positioning information in the figure, the price of Xpeng’s new SUV model will be between P7 (RMB 229,900) and P7 Wing Limited Edition (RMB 366,900), and is expected to launched in 2022.
Sales and Service
As of March 31, 2021, Xpeng Motors’ sales and service network consists of 178 stores and 61 service centers, covering 70 cities in China. Among the 178 stores, 88 are directly-operated stores and 90 are franchised stores. Among the 61 service centers, 4 are directly-operated service centers and 57 are franchised service centers. Xpeng stated that its service center is a delivery and after-sales service center, and customers can pick up cars and get after-sales service at the service center.
Charging Solutions
Household Charging: As of March 31, 2021, more than 50% of customers have installed XPeng Motors’ household charger.
Xpeng Supercharging Station. As of March 31, 2021, XPeng has operated 172 Xpeng Supercharging stations, covering 60 cities in China. Each station is equipped with an average of 6 to 7 chargers, with a peak power output of 120 kilowatts.
Third-party charging stalls: As of March 31, 2021, Xpeng’s charging network has been connected to more than 200,000 third-party charging stalls across the country.
R&D
As of March 31, 2021, Xpeng Motors has a total of 6,132 employees in China and the United States. As of the same date, 39.8% of employees are dedicated to research and development, of which 62.1%, 16.3% and 21.5% of employees are dedicated to automotive design and engineering, autonomous driving and intelligent operating systems, respectively. In addition to the existing two smart electric vehicle platforms, David and Edward, Xpeng Motors has begun the development of a new platform.
Source: HKEX