Chinese EV maker Xpeng (NYSE: XPEV, HKEX: 9868.HK) began ground floor construction on its third manufacturing plant in Wuhan, as shown on 28 Dec.
Hand in hand with government, Wuhan serves as Smart EV manufacturing hub
As one of the six automobile centers in China, with mature auto supply chain and ancillary facilities, Wuhan serves an superior role geographically, with high-speed rail, expressway and water transportation hub intersect.
XPeng announced on 31 Jul. to begin construction for its Wuhan manufacturing plant, confirmed its strategic collaboration with Wuhan municipal government in April.
This collaboration with Wuhan government signifies government’s recognition of Xpeng as one of the major market leaders in Smart EV industry.
Xpeng’s manufacturing base to fulfill roaring smart EV demands in China
Wuhan manufacturing base will cover a planned area of over 733,000 square meters, consist of manufacturing and powertrain plants, as well as R&D facilities.
Manufacturing section is dedicated to stamping, welding, painting, assembly, battery, and electric drive system, with annual capacity of 100,000 new vehicles and is expected to generate a production value of over $4.64 billion annually.
He Xiaopeng, chairman and CEO of XPeng, said “Wuhan factory is the company’s third-generation intelligent car platform and first global platform— its manufacturing capacity is of utmost importance.”
XPeng currently owns a factory in Zhaoqing, Guangdong province, and last September began construction of a second factory in Guangzhou, which is expected to be in production by the end of 2022.
Strong sales for Xpeng in November 7,839 P7s delivered in November 2021, a 187% increase year-over-year