XPeng Clarifies Rumors of Subsidiary Battery Swapping Business
According to Chinese enterprise data platform Tianyancha, Guangzhou-headquartered electric vehicle manufacturer XPeng Motors has established a new subsidiary named Shanghai Pengxu Automobile Sales & Service Co., Ltd., with a registered capital of 5 million yuan ($789,577).
The business scope of the new company includes the sale of battery swapping facilities, and the recycling and cascade utilization of waste power batteries for new energy vehicles.
Regarding speculation that XPeng will develop a battery swapping business, the firm replied to Jiemian News that it does not have such plans. According to the representative, “We have been building a network of supercharging stations. At least the currently planned models have not mentioned the information of battery swapping features, and we have never heard any discussion in this regard internally.”
In January this year, when Chinese battery giant CATL announced that it would enter the battery swapping market through the establishment of its EVOGO brand, XPeng Motors released the progress of its supercharging stations. It showed that as of January 17, 2022, XPeng‘s supercharging stations had covered 333 prefecture-level cities and four directly-administered municipalities in China, with a total of 813 supercharging stations and 166 destination charging stations.
In fact, the sales of battery swapping facilities within the business scope of the new company were already included in that of another subsidiary named Guangzhou Zhipeng Automobile Sales & Service Co., Ltd. established in March last year. The company is also wholly owned by XPeng Motors.
In addition, two newly established XPeng subsidiaries, located in Jieyang and Yancheng in Guangdong province, also have qualifications to operate sales of battery swapping facilities, as well as the recycling and cascade utilization of waste power batteries.
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Sales data show that in January 2022, XPeng Motors delivered 12,922 new cars, up 115% year-on-year. This is also the fifth consecutive month that XPeng Motors has delivered over 10,000 vehicles. As of January, XPeng‘s cumulative delivery volume has exceeded 150,000 vehicles.