Xpeng Motors’ affiliated company invests in intelligent connectivity research institute in Guangdong

Shanghai (Gasgoo)- Guangdong Xiaopeng Motors investment Co.,Ltd. (Guangdong Xiaopeng), an affiliated company of the EV startup Xpeng Motor, recently invested in a Guangdong-based company whose main business is the R&D of intelligent connectivity technology, according to the corporate data platform Tianyancha.

Founded on November 9, the new company is named Zhihua (Guangdong) Intelligent Connectivity Research Institute Co.,Ltd. (Zhihua). It has a line of businesses including the R&D of engineering technologies and testing, the retail and wholesale of automotive parts, the sale of electrical equipment, electronic products and hardware products, as well as property management, according to Tianyancha.

Apart from Guangdong Xiaopeng, Guangdong Marshell Electric Vehicle Co.,Ltd. and Guangdong Polytechnic College are also among Zhihua's investors.

Xpeng Motors said its gross margin stood at 4.6% for the third quarter of 2020 (Q3), for the first time turning positive on a quarterly basis.

According to the startup’s financial results, its Q3 revenues were 1,990.1 million yuan (US$293.1 million), a 342.5% year-on-year surge. Of those, revenues from vehicles sales were 1,898.0 million yuan (US$279.6 million), soaring 376% over a year ago.

In the third quarter, Xpeng Motors delivered 8,578 new vehicles, representing an increase of 265.8% from the year-ago period. Among 6,210 Xpeng P7s delivered for the quarter, 98% can support XPILOT 2.5 and XPILOT 3.0 advanced driver assistance system, said the automaker.

On October 24, 2020, Xpeng held its second annual Tech Day where it showcased its differentiated end-to-end R&D capabilities, featuring an array of cutting-edge autonomous driving and in-car smart technologies. These innovative features include Navigation Guided Pilot (NGP) for highways and memory auto parking for carparks, both featuring of XPILOT 3.0. In the meantime, Xpeng also launched another OTA upgrade to its Xmart OS operating system, which features an in-car voice system that is able to engage in continuous driver-vehicle dialogues.