Xpeng in Final Stretch of US IPO
Xpeng has recorded 1 billion CNY in earnings near its US IPO.
Xpeng Motors publicly submitted its prospectus, and it is expected to be listed on the New York Stock Exchange in August at the earliest, with its stock code being 'XPEV.' Once Xpeng Motors goes public, it will become the third domestic new carmaker to be listed overseas after NIO and LI Auto.
Xpeng’s IPO price range and the number of shares to be issued are undecided, and the financing amount is temporarily uncertain. The US$100 million listed in the prospectus is only a placeholder for routine disclosure and does not represent the actual financing amount of this IPO.
1 billion CNY earning and mass delivery of P7
Recently, Xpeng Motors held a delivery ceremony for the Xiaopeng P7 at the Zhaoqing Xpeng Automobile Intelligent Networked Technology Industrial Park, marking the start of large-scale delivery of this ultra-long endurance smart coupe.
In the field of traditional coupe, the NEDC P7 has an ultra-long endurance with a comprehensive cruising range of up to 706km and top acceleration as well as handling performance.
As of July 31, 2020, Xiaopeng Motors had delivered 18,741 G3 cars to customers. The production and delivery of the P7 model began in May 2020; as of July 31, 2020, Xiaopeng Motors had delivered 1966 P7 vehicles to customers. Xiaopeng Automobile also plans to launch its third smart electric car in 2021.
According to its prospectus, Xiaopeng Motors' revenue in 2018 and 2019 were 9.7 million CNY and 2.321 billion CNY (approximately USD $329 million); Xiaopeng Motors’ revenue in the first half of 2020 was 1.003 billion CNY (approximately USD $142 million). Revenue in the same period last year was 1.232 billion CNY.