XPENG Secures 10 Billion Yuan Credit Line from China CITIC Bank
Shanghai (Gasgoo)- XPENG, the Chinese electric vehicle manufacturer, has recently inked a strategic cooperation agreement with China CITIC Bank in Guangzhou. According to a post on XPENG’s WeChat account, the deal involves the bank’s Guangzhou branch extending a credit line of 10 billion yuan to XPENG. This move is expected to enhance the automaker’s cash efficiency and cost management.
Both XPENG and China CITIC Bank view this agreement as a significant step in deepening their partnership. The bank’s decision to provide such a substantial credit line underscores its confidence in XPENG’s growth prospects and long-term competitiveness.
Photo credit: XPENG
XPENG has been experiencing robust sales momentum in recent months. In July alone, the company delivered 36,717 units, marking a 229% year-on-year increase and maintaining a streak of nine consecutive months with deliveries exceeding 30,000 units. The total deliveries for the first seven months of 2025 surged by 270% compared to the previous year, reaching 233,906 vehicles. Since its inception, XPENG has delivered over 800,000 units.
The company is also focusing on expanding its global presence. In the first half of 2025, XPENG delivered 18,701 units overseas, representing a 217% year-on-year growth. Its products are now available in 46 countries and regions.
In July, XPENG unveiled its 2025 G6 and G9 models at the Goodwood Festival of Speed in the UK, announcing plans to launch in new European markets such as the UK, Italy, and Ireland. Additionally, at the GIIAS 2025 event, XPENG identified Indonesia as its first overseas hub for local production and handed over the first locally assembled XPENG X9 to a customer.
Looking forward, XPENG has outlined its commitment to increasing investments in AI and electrification technologies, while also enhancing its global sales and service networks. The company aims to position itself as a “global AI-driven automaker” in the next decade.
