Xpeng Motors Sets Up Real Estate Company for Plant's Operation
COVID-19 and China
G3. PHOTO Credit: Xpeng Motors

Chinese enterprise information query platform, Qichacha's data shows that Zhaoqing Kunpeng real estate development Co., Ltd. was registered on May 17, 2019. The chairman and legal representative of Kunpeng real estate company is XIA Heng (夏珩), co-founder and President of Xpeng Motors.

The registered capital of the company is CNY 474 million, and the major shareholder is Xpeng Motors, a Chinese new car manufacturer, with a shareholding of 73.84%. Zhaoqing High-tech Zone Construction Investment and Development Co., Ltd. has a shareholding of 26.16%.

Kunpeng's business scope includes real estate development and management. The company undertake municipal engineering, water and electricity, heating and cooling engineering installation, maintenance, property management, real estate leasing business, real estate consulting services.

Less than a year since Xpeng Motors' first mass production model, the G3, officially hit the market and began delivering it to customers on December 12, 2018, is it time to enter the real estate industry?

In response, Xpeng Motors said in an official reply to EqualOcean that the company had no intention of entering the real estate market. The real estate company was established to prepare for the daily operation of its Zhaoqing plant.

Xpeng Motors has not obtained the qualification to build cars, and the factory is still under construction. In order to quickly produce and deliver vehicles, its G3 model is produced by Haima Motor's Zhengzhou factory. Xpeng is also building its own factory in Zhaoqing and has its own plan to obtain the qualification. However, the way and method for Xpeng to obtain the qualification are still unknown.

Official data shows that Xpeng's Zhaoqing factory project was officially laid on December 11, 2017. The proposed land area is 900 mu, with a total investment of CNY 10 billion in the first and second phases, of which the first phase has an annual capacity of 100,000 vehicles.

The project is scheduled to start construction in June 2018, and individual civil works of each workshop will be completed successively before April 2019. The four major processes of stamping, welding, coating and final assembly are planned to start equipment installation and field integration in February 2019. It is expected to complete equipment commissioning in September 2019 and trial production in the third quarter of 2019.

One day before Xpeng Motors invested in real estate, its travel platform “Youpeng Chuxing” was launched. Xpeng has taken another step down the road of "operation".

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