GUANGZHOU, China – XPeng Inc. today announced that it has entered into a Memorandum of Understanding (“MoU”) with Zhongsheng Group, a leading automobile dealership group in China, to establish a long-term strategic partnership to provide both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further accelerate the Smart EV adoption in China.
Through the partnership, the Company will leverage Zhongsheng’s well-established dealership network and expertise in serving consumers for mid-to-high end automobiles to further accelerate XPeng’s sales growth, while strengthening its after-sales services capabilities.
Pursuant to the partnership, Zhongsheng Group will be investing in and operating authorized XPeng branded dealership outlets to provide smart EV sales and services. Such sales and services facilities will be first launched in tier-1 or high-potential cities in China within 2021.
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Looking ahead, both parties will also explore more strategic cooperation opportunities in business model innovations, creating long-term competitive advantages and value propositions to seize huge growth potential in Chinese Smart EV market.
“Consumer demand for high-quality Smart EVs is spurring rapid market growth in China,” said He Xiaopeng, Chairman and CEO of XPeng. “By partnering with Zhongsheng, we can accelerate the pace of expanding our sales and service network and promote XPeng’s differentiated Smart EV products and advanced autonomous driving capability to customers. The partnership will also further enhance our brand awareness, making our Smart EVs accessible to a wider range of customers. I believe the long-term strategic partnership with Zhongsheng will strengthen our leadership in the fast-growing Smart EV sector in China.”
“Based on our robust group performance, a strong mix of brands in our portfolio and a nationwide dealership network with over 5 million customers across China, we are excited to take another step to embrace our industry’s move toward EVs,” said Huang Yi, Chairman of Zhongsheng. “We are proud to enter a national strategic partnership with XPeng to accelerate their sales and provide high-quality services to their customers. This partnership will mark the realization of Zhongsheng’s New Energy Vehicle Strategy, which we initiated in Q4 2020. I strongly believe that the close collaboration between one of the leading manufacturers of smart premium EVs and one of the largest automotive dealer groups globally will substantially contribute to our mutual growth and sustainable mobility.”