Xpeng Motors’ business presence in China continues to expand.
The company established Hainan Xpeng Motors Technology Co on July 23 with a registered capital of RMB 20 million ($3.084 million), according to information from data provider Tianyancha.
The company’s business scope includes artificial intelligence application development, new car sales, used car brokerage and charging pile sales.
This is at least the second company Xpeng has set up in Hainan this month.
On July 7, Sanya Zhipeng Automobile Sales & Service Co was established with a registered capital of RMB 10 million. The company is 100 percent held by Xpeng.
The company’s business scope includes new energy vehicle sales, car leasing, auto parts wholesale, new energy vehicle electric accessories, battery swap facilities sales.
Earlier on May 16, Xpeng opened its flagship service center in Haikou, Hainan, which is designed according to Xpeng’s global uniform standards.
Xpeng fell more than 8 percent to HK$152.4 at press time amid a widespread sell-off in Hong Kong stocks. Hong Kong’s Hang Seng Index fell 3.5 percent, while the Hang Seng Technology Index dropped 6 percent.
