Xpeng Motors founds new tech subsidiary in Shenzhen

Shanghai (Gasgoo)- Xpeng Motors recently set up a technology company in Shenzhen, which is expected to help the startup shore up the development of ICV (intelligent-connected vehicle)-related business.

The new subsidiary, dubbed Shenzhen Xiaopeng Motors Technology Co.,Ltd. (Shenzhen Xiaopeng), is founded on Feb. 24, 2021 in Shenzhen, according to the corporate data platform Tianyancha. Involving a registered capital of 50 million yuan ($7.746 million), it is wholly controlled by Guangzhou Chengxingzhidong Automotive Technology Co., Ltd., the parent of Xpeng Motors. Xia Heng, co-founder and president of Xpeng Motors, serves as its legal representative.

Tianyancha's records show that Shenzhen Xiaopeng features a business scope that involves the R&D of automotive engineering and IoT (Internet of Things) technologies, the development of AI application software, the integration of intelligent control system as well as the Internet security-related technical services.

Founded in 2014, Xpeng Motors is headquartered in Guangzhou, with branches in Beijing, Shanghai, Silicon Valley and San Diego. The company’s smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, which are located in Guangdong and Henan provinces respectively. It currently has two mass-market models available for sale, namely the Xpeng G3 and P7.

The startup plans to launch its third production model in 2021 and the vehicle is expected for delivery as early as this year’s fourth quarter, according to Brian Hongdi Gu, Vice Chairman and President of Xpeng Motors. The forthcoming model would be the world’s first mass-produced vehicle powered by LiDAR.

Xpeng Motors' monthly deliveries hit a record high of 6,015 units in Jan. 2021, skyrocketing 470% from the previous year and doubling over the year-ago level for the seventh month in a row.