XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle (Smart EV) company, has entered into a cooperation agreement with the City of Wuhan to build a new XPeng Motors Wuhan Smart EV Manufacturing Base. The new facility will cover a planned area of over 733,000 square meters, and feature manufacturing and powertrain plants, as well as R&D facilities.
It will have an annual capacity of 100,000 units with manufacturing and powertrain plants.
XPeng’s says its new manufacturing base will also support Wuhan’s strategic priorities of transforming and modernising the city’s industrial facilities, and auto manufacturing value chain, creating major innovation clusters and employment opportunities to power the auto industry of the region.
Mr. He Xiaopeng, Chairman and CEO of XPeng, says: “Smart EVs are booming in popularity in China. We have a long-term strategic roadmap to embrace the sector’s transformation. Expanding our capacity in key hubs like Wuhan plays a critical role,. Wuhan’s strategic location as an auto manufacturing and distribution hub will further enhance our supply chain management, sales and distribution network in the future.”
Mr. He adds: “Our technology know-how will help the city enrich and upgrade its Smart EV industrial capability, strengthening its pivotal role as an auto hub for the future.”
Founded in 2015, Xpeng Inc. designs, develops, manufactures and markets Smart EVs in China.