XPeng s P7 model receives new OTA upgrade gasgoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gasgoo.com Daily Mail and Mail on Sunday newspapers.
The US$744 million deal enables Xpeng to take advantage of Didi’s business platforms for promotion while helping Didi dodge the cutthroat EV market, an analyst says.
Chinese ride-hailing firm Didi Global has agreed to sell its electric vehicle (EV) arm to EV maker Xpeng in exchange for shares worth HK$5.84 billion (US$744 million), exiting a once promising business that is now crowded with 200-odd players. Guangzhou-based Xpeng will issue the shares at HK$64.03 apiece to pay for the asset, according to their exchange filings on Monday. Beijing-based Didi, which was slapped with an 8 billion yuan (US$1.1 billion) fine for data violations, will own 3.25 per ce