(XPEV), NIO Inc (NYSE:NIO) - Xpeng Secures $2B Credit Line To Fuel Expansion Plans benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
BEIJING (Reuters): Chinese electric vehicle maker Xpeng Inc said on Tuesday (Jan 12) it has secured a credit line of 12.8 billion yuan (US$2 billion) from five Chinese banks to expand manufacturing and sales.
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…
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.