EV startup Xpeng Motors sets up new mobility technology subsidiary in Hangzhou

Shanghai (Gasgoo)- Guangzhou-based EV startup Xpeng Motors founded on August 14 a mobility technology subsidiary in Hangzhou, capital of Zhejiang province, according to Tianyancha, a Chinese company information search platform.

Dubbed Hangzhou Xiaopeng Mobility Technology Co.,Ltd., the newly-established company involves a registered capital of 5 million yuan ($645,140), which are totally poured by Guangzhou Xiaopeng Smart Mobility Technology Co., Ltd.

According to Tianyancha, the Hangzhou-based company features a line of businesses covering the operation of EV charging infrastructures, the sale of intelligent power transmission, distribution and control facilities, the used car dealership, as well as the sale of distributed AC charging piles, complete vehicles and new energy vehicles.

(Xpeng P7, photo source: Xpeng Motors)

According to the data offered by China Automotive Technology & Research Center (CATARC), the insurance registrations of Xpeng Motor's vehicles shoot up 130% over a month ago to 2,532 units in July, the highest figure the startup has posted so far this year. Of those, 1,723 units were from the Xpeng P7, the EV manufacturer's second mass-produced model hitting the market in late April.

(Xpeng G3, photo source: Xpeng Motors)

It is also noteworthy that the insurance volume of the Xpeng G3 amounted to 5,994 units for the first seven months, 86.04% of which were delivered to private users.

The car rental area has long been an important whereabouts for new energy vehicles. As the domestic NEV market is not mature enough, selling products to business users has served an efficient method for EV makers to spur sales and lower costs. However, the demands of mobility service market and personal users are remarkably different as the former more focuses on cost effectiveness and the later gives more weight to individuation and intelligence.

As of June 2020, Xpeng Motor has built 128 sales outlets in 63 cities and 65 service centers in 52 cities. Besides, it has signed up with nearly 200 supercharging stations located in 62 cities and has been given access to over 200,000 third-party charging piles so as to provide users with fast and efficient charging solutions.