Xpeng, a leading electric vehicle (EV) maker, has recently secured a substantial credit facility from China CITIC Bank Guangzhou Branch. The credit facility, totaling RMB 10 billion ($1.4 billion), is aimed at supporting Xpeng’s business operations and development.
The agreement was formalized at a signing ceremony attended by Xpeng’s vice chairman and co-president Brain Gu and Xue Fengqing, president of China CITIC Bank Guangzhou Branch. This partnership signifies a deepening of cooperation between the two entities and underscores the bank’s confidence in Xpeng’s growth potential.
The credit facility is expected to enhance Xpeng’s cash utilization efficiency and optimize its settlement cost management. This financial support comes at a crucial time as Xpeng continues to expand its presence in both domestic and overseas markets.
In the first half of this year, Xpeng reported a significant year-on-year increase in overseas vehicle deliveries, reaching 18,701 units. This robust growth trajectory in international markets has contributed to Xpeng’s overall success, with the company delivering 233,906 vehicles in the first seven months of the year, marking a 270.26 percent year-on-year increase.
Xpeng’s global footprint now spans 46 countries and regions, solidifying its position as one of the top six pure electric vehicle brands in terms of sales worldwide. The company’s ambitious goal is to double its deliveries in 2025 compared to the previous year, with first-half deliveries already surpassing the total for 2024.
Looking ahead, Xpeng is set to announce its unaudited financial results for the second quarter of 2025 before the opening of US stock markets on Tuesday, August 19. With a strong financial backing from China CITIC Bank and a track record of impressive growth, Xpeng is well-positioned to continue its upward trajectory in the competitive EV market.
This latest development underscores Xpeng’s commitment to innovation and expansion, positioning the company as a key player in the global electric vehicle industry. Stay tuned for more updates on Xpeng’s continued success and strategic partnerships in the evolving EV landscape.
