XPeng builds technology subsidiary in Hainan province

Shanghai (Gasgoo)- XPeng Inc. recently founded a Hainan-based technology subsidiary whose licensed businesses include development of AI-enabled application software.

XPeng P5; photo credit: XPeng

Named Hainan Xiaopeng Motors Technology Co.,Ltd., the new company involves a registered capital of 20 million yuan ($3.085 million) and is wholly controlled by Guangzhou Xiaopeng Motors Technology Co., Ltd., according to the business information provider Tianyancha. It features a line of business covering the development of AI-based application software, the brokerage of pre-owned vehicles, and the sale of new automobiles and charging piles.

For the first half of 2021, XPeng set up in Hainan province two sales service subsidiaries, which are located in Haikou and Sanya. Both of them are wholly held by Xiaopeng Automobile Sales Co.,Ltd., and are allowed to work on car rental service, wholesale of auto parts, roadside assistance service, distribution of used cars, and sale of new energy vehicles and battery swapping facilities.

XPeng is regarded as one of top three rivals to Tesla in the Chinese market. It made its debut on Hong Kong's stock exchange on July 7, wrapping up a listing that brings it closer to investors in China. In late August of 2020, the EV manufacturer's stock began trading on the New York Stock Exchange under the symbol “XPEV”.