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HomeNewsXPeng secures $2 billion credit line from Chinese leading banks

XPeng secures $2 billion credit line from Chinese leading banks

2021-01-19

XPeng Inc. has signed a strategic cooperation agreement with Chinese leading commercial domestic banks, pursuant to which it will secure a credit line of RMB12.8 billion (US$1.98 billion) with an extensive range of credit facilities.

Under the terms of the Agreement, five domestic commercial banks including the Agricultural Bank of China, the Bank of China, China Construction Bank, China CITIC Bank and Guangzhou Rural Commercial Bank, will provide credit facilities to support the Company`s business operations and expansion of its manufacturing, sales and service capabilities. These facilities will help the Company optimize the efficiency of its cash management, cost control and other corporate functions.

The strategic cooperation with leading banks further diversifies XPeng`s funding channels, underscoring its solid business fundamentals and growth prospects.

The Chinese smart EV maker is developing rapidly following its successful $900 million pre-IPO fundraising and $1.7 billion IPO in August 2020.

In December 2020, XPeng completed its first public follow-on offering, raising approximately $2.5 billion. In November 2020, XPeng`s second manufacturing base broke ground in Guangzhou, making it the first Chinese start-up EV maker with two self-owned factories.

MAIN NEW ENERGY CO.,LTD
Business Type:Manufacturer , Agent , Trade Company , Distributor/Wholesaler
Product Range:Vehicles & Transportation
Products/Service:Electric Car , Electric Bus , Electric Truck , Silicon Battery , Lithium Battery , Solar Products
Certificate:GB , ISO/TS16949 , ISO14001 , ISO14004 , ISO14010 , ISO9001 , CB , CCC , CE , EMC , FCC , MSDS , PSE , RoHS , S-Mark , Test Report , TUV , UL , VDE
Company Address:NO, 1229 BAOSHAN RD. INSHOW BUILDING BLOCK B, BEILIN, Ningbo, Zhejiang, China

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