The Electric Vehicle manufacturer Xpeng Motors opened today its first showroom located at the Stockholm Westfield Mall, in Sweden. The first pictures of the showroom leaked recently on Reddit Forum. Sweden is the second European Market for Xpeng after entering Norway in late 2020 with the SUV G3 Model. In this year, the company will enter Sweden, Denmark and the Netherlands extending its European presence up to 4 countries.
Yesterday, two Xpeng P5 Models were seen in Amsterdam, the Netherlands ahead of the Expansion to that country by the Chinese EV manufacturer. In early December, many job posts were published by Xpeng on LinkedIn, specially for Sweden and Netherlands confirming the expansion for this year.
As a company that focuses on global opportunities, we want to be balanced with our contribution of delivery — half from China, half from outside China — in the long run.
Gu, Xpeng’s President
Xpeng sold a total of 62 vehicles in Norway during January 2022 — 45 G3 Model and 17 P7 Model. Last October, the Chinese automaker introduced its large electric sedan P7 to the Norwegian market, after the electric SUV G3 has already been delivered there since late 2020. XPeng delivered a total of 12,922 Smart EVs in January 2022, representing a 115% increase year-over-year, exceeding the monthly delivery benchmark of 10,000 units for the fifth consecutive month.
Xpeng currently builds EVs in Zhaoqing, China, but it is setting up two new domestic factories in Guangzhou and Wuhan. These new factories will increase the annual production capacity up to more than 400,000 units. With double-shift production at these plants, it will have the potential to roll out 600,000 units per year.
Earlier this week, XPeng Inc. announced that the Company’s Ordinary Shares, which trade on The Stock Exchange of Hong Kong Limited (“HKEX”), are included in the Shenzhen-Hong Kong Stock Connect programs, effective on February 09, 2022, according to the announcement issued by the Shenzhen Stock Exchange.
XPeng’s inclusion in the Stock Connect programs marks another important milestone for the Company. It is the first smart EV companies listed in Hong Kong to be included in the Stock Connect program. It was also the first smart EV company to achieve a dual-primary listing status on both the New York Stock Exchange and the Hong Kong Stock Exchange.
The inclusion will not only further expand and diversify our investor base but also provide the opportunity for our customers, partners and EV and technology investors in China to participate in our exciting growth story
Brian Gu, president of Xpeng
The inclusion of the Ev maker on the Shenzhen-Hong Kong Stock Connect makes it easier for international investors to trade Chinese mainland-listed stocks and investors in China’s mainland to buy and sell Hong Kong-listed shares growing the potential of investment from other investors. Xpeng shares are currently trading +5.86% higher at $39.30 per share.