Industrial and Commercial Bank of China’s (ICBC) Guangdong Branch has granted XPeng a 10 billion yuan ($1.37 billion) credit line, following a cooperation agreement signed on January 6 at the carmaker’s Technology Park.
The funds from China’s largest commercial bank will be used to support the automaker’s financing needs, international expansion, and cash management, underpinning its daily operations and long-term strategy.
XPeng founder and CEO He Xiaopeng highlighted that the company will continue investing in Zhaoqing, with the strategic alliance expected to bridge finance and technology, help build a smart-mobility ecosystem, and support China’s push for technological self-reliance.
The agreement was made nearly five months after the Guangzhou-headquartered company secured a credit line of the same amount from China CITIC Bank.
Last November, when the company reported its third-quarter financial results, XPeng disclosed that its cash and cash equivalents were 48.33 billion yuan ($6.79 billion) as of September 30, up from 47.57 billion yuan as of June 30.
As of press time, XPeng‘s shares are trading 9% higher, due to the progress announced earlier on Monday on the EU tariff negotiations, the ICBC credit line, and the leaked sales and product planning.
2025 and 2026
In 2025, XPeng sold a total of 429,445 units, representing a 126% year-on-year rise, with 45,008 delivered outside of China, up 96% from the prior year.
Early last year, the automaker had set a delivery target of 380,000 vehicles, a milestone it successfully achieved ahead of schedule in mid-November.
By year-end, XPeng had expanded its presence to 60 markets and regions, up from 30 a year earlier.
On Monday, XPeng set a global delivery target for 2026 of between 550,000 and 600,000 vehicles.
New and Upcoming Models
Last week, XPeng launched its revamped P7+ sedan in China, available in both EREV and BEV versions, alongside the third generation of its G6 and G9 SUVs.
The sedan was simultaneously rolled out across 36 countries.
XPeng plans to launch a total of seven models this year, including range-extended versions of existing fully electric vehicles.
The Chinese automaker is expected to add two SUVs to its Mona series, which currently includes only the M03 sedan, XPeng‘s more affordable and best-selling model, as reported by 36Kr.
A full-size flagship SUV is also planned, positioned to compete with the Li Auto L9 and Huawei-backed Aito M9, and will be offered in both fully electric and extended-range variations.
