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Chinese electric vehicle maker Xpeng secures $2 bln credit line to expand manufacturing

BEIJING Chinese electric vehicle maker Xpeng Inc said on Tuesday it has secured a credit line of 12.8 billion yuan ($2 billion) from five Chinese banks to… ....

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China EV maker XPeng inks strategic cooperation agreement with banks for $2B credit facilities

China-based EV company XPeng signed a strategic cooperation agreement with leading domestic banks at a signing ceremony held in Guangzhou, China, pursuant to which it will secure a credit line of RMB12.8 billion (US$1.98 billion) with an extensive range of credit facilities. Under the terms of the agreement, five domestic. ....

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Chinese electric vehicle maker Xpeng secures $2 billion credit line to expand manufacturing

By Reuters Staff
1 Min Read
FILE PHOTO: The logo on an XPeng Inc. P7 performance electric vehicle is seen outside the New York Stock Exchange in New York, U.S., August 27, 2020. REUTERS/Mike Segar
BEIJING (Reuters) - Chinese electric vehicle maker Xpeng Inc said on Tuesday it has secured a credit line of 12.8 billion yuan ($2 billion) from five Chinese banks to expand manufacturing and sales.
New York-listed Xpeng, which has a market value of $35 billion, said the credit facility will diversify its funding channels.
The maker of the P7 sedan and the G3 sport-utility vehicle is planning to build a third car plant in China. ....

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(XPEV), NIO Inc. (NYSE:NIO) - Xpeng Secures $1.98 Billion Credit Line To Fuel Expansion Plans

Chinese electric vehicle manufacturer Xpeng Inc (NYSE: XPEV), on Monday, announced securing a line of credit from five domestic . ....

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Xpeng Secures $1.98 Billion Credit Line To Fuel Expansion Plans

Chinese electric vehicle manufacturer Xpeng Inc (NYSE: XPEV), on Monday, announced securing a line of credit from five domestic commercial banks in an event in Guangzhou, China. The new credit agreement will not only aid with the working capital management but also optimize cost control. What Happened: As a part of the agreement, Xpeng will have access to RMB 12.8 billion, or roughly $1.98 billion, as an extensive credit facility to support and. ....

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