XPENG Motors Announces G3 Delivery Schedule and Fundraising Plans during Brand Day Celebrations
Electric vehicle startup XPENG Motors will manufacture G3 electric SUV and the delivery will start at the end of 2018.
He Xiaopeng, chairman and CEO of XPENG, shared his understanding of the intelligent vehicle and the intelligent vehicle era in his speech among a series of brand day celebrations at the iconic Canton Tower in Guangzhou on the evening of August 15.
He said that in this new competitive landscape, the real intelligent vehicle must be based on artificial intelligence to achieve a real fusion of the hardware and software from a structural level, and not just adding intelligent configurations on traditional vehicles.
This is the first time that XPENG Motors had publicly shared its vision of the intelligent vehicle era since its founding in 2014. Its management team, representative investors and employees, as well as over 200 media outlets were all present to witness the occasion.
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Currently, XPENG is still working on “building a team, setting foundations, doing the homework, acquiring data, and quickly iterate” in order to compete in the first step of the intelligence vehicle race. The second step is about letting autonomous driving take over, create an app store for intelligent vehicles with more applications and more application scenarios. This will also create more related products and services in the future.
He Xiaopeng also announced a new round of pre-order discounts available on their new website, mobile app and WeChat public account. The three-tiered options include 4 years or 100,000 kilometers of free charging with a deposit of 10,000 yuan ($1,600).
Xia Heng, co-founder and president of XPENG Motors, also shared the company’s plan to address the three biggest concerns for new energy vehicles companies. These concerns involve the quality, mass production and delivery of the vehicles by the new EV startups.
Xia expressed that after four years of research and development, manufacturing and internally delivering a small batch of vehicles to test all the processes, no path necessary of a vehicle was left unchartered by XPENG Motors. XPENG Motors was the first new energy vehicle company to receive product quality verification by the Chinese Ministry of Industry and Information Technology, proving the EV startup’s vehicle manufacturing capabilities.
Two weeks ago, XPENG Motors announced the completion of its 4 billion yuan Series B round of funding. The company is now estimated to be worth 25 billion yuan. Vice chairman and president of XPENG Motors, Gu Hongdi, said that XPENG plans increase their total amount raised from the current over 10 billion yuan to 30 billion yuan by the end of 2019.