(Source: Hong Kong Economic Times)
Xpeng Motors is pleased to be listed in Hong Kong and believes it can be closer to local investors, and will consider listing on the A-share market in the future, Hong Kong Economic Times quoted Brian Gu, the company’s vice chairman, and president, as saying on Wednesday.
Xpeng’s listing in Hong Kong is more about strategic objectives than financing needs, Gu said, adding that Xpeng’s dual primary listing is expected to qualify for inclusion in the mainland-Hong Kong Stock Connect, connecting it to Greater China investors, particularly those on the mainland.
Xpeng has always wanted to allow customers to become investors at the same time, now it is difficult to do share swaps between different markets, will continue to pay attention to the development of the A-share market, he said.
Recently, several companies, including ride-hailing giant Didi Chuxing, have been the subject of scrutiny by cybersecurity authorities, and companies listed in the US are expected to be more strictly regulated in China.
Gu said it is unclear exactly what regulators are asking for and is continuing to monitor the situation, making it difficult to assess the impact, the report said.
Xpeng’s smart car features such as autonomous driving involve large amounts of data, and the company has been required to comply with digital security, national security and other requirements, Gu said.
Regulatory standards are in flux, and Gu believes that adapting to regulation is a necessary capability for tech companies, and the auto industry itself is already a highly regulated industry, according to the report.
