XPeng Secures RMB 10 Billion Credit Line from ICBC to Accelerate Smart Mobility Ecosystem Expansion

Recently, XPeng Motors signed a strategic cooperation agreement with the Guangdong Branch of Industrial and Commercial Bank of China (ICBC), securing a credit line of RMB 10 billion. The funds will support XPeng’s financing needs, international operations, and cash management, bolstering its daily operations and strategic growth. He Xiaopeng, Chairman of XPeng Motors, stated that the company plans to expand its investment in its Zhaoqing manufacturing base, integrate financial and technological resources, and accelerate the development of an intelligent mobility ecosystem. Currently, the Zhaoqing factory rolls out a new vehicle every 90 seconds, and the company anticipates significant growth in deliveries both domestically and overseas by 2025. This partnership will further enhance XPeng’s financial stability and flexibility, providing critical support for core technology R&D, expansion of its sales and service network, and scaled-up operations.