XPENG Motors’ charging business unit gets registered capital increased by RMB400 mln

Shanghai (Gasgoo)- The registered capital of a XPENG Motors' subsidiary, engaging in charging piles' manufacturing, has recently grown to RMB500 million (US$71.16 million) from RMB100 million (US$14.23 million).   

Last month, the Alibaba-backed EV manufacturer's wholly-owned technology subsidiary had its registered capital increased from RMB650 million (US$92.51 million) to RMB6 billion (US$854 million). XPENG Motors announced just a few days ago the signing of its Series C capital funding of US$400 million (RMB2,811 million) from a group of investors including Xiaomi Corporation, a global leader in the technology and consumer electronics sector, and He Xiaopeng, Chairman and CEO of the automaker.  

The Guangzhou-based EV startup has been making efforts to build and operate charging facilities. In 2018, it has signed up 100 super charging stations in over ten first- and second- tier cities and planned to put 30 of them into use by the Spring Festival of 2019. At each charging station, 6-10 DC (direct current) fast filling piles have been set up recently with the 180kW double-gun piles playing a major role.     

According to the previous goal, the automaker aims to deploy 1,000 supercharging stations and have access to China's major third-party charging business operators over the next three years, offering one-stop services covering finding piles, charging and payment.

Besides, XPENG Motors will unveil more specifications of the P7 at the Auto Guangzhou 2019 on Nov 22nd, including its intelligent configurations and the official pre-sale price. The P7's intelligent musical cockpit will be unveiled at the same time. In addition, the Guangzhou-based company is about to showcase the G3 2020.  

The medium-sized sedan adopts dual-motor 4WD (four-wheel-drive) layout with 0-100km/h acceleration in 4 seconds. The intelligent electric coupe highlights a NEDC-rated range of over 600km and a Cd 0.236 drag. It measures 4,900mm long with a wheelbase of 3,000mm (photo source: XPENG Motors).