XPENG Expands Footprint with Entry Into Hong Kong and Macau

GUANGZHOU, China, April 10, 2024 (GLOBE NEWSWIRE) -- XPENG Motors (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today expands its footprint through a dealer partnership with Sime Darby Motors in Hong Kong.

Dr. Brian Gu, Vice Chairman and President of XPENG Motor (left), and Mr. Tommy Wong, Managing Director of Hong Kong & Macau, Sime Darby Motors (HK) Limited (right)

The partnership will enable XPENG to bring its latest smart EVs to local consumers in the Hong Kong market with branded showrooms, after-sales support, and comprehensive guidance through each stage of the buying process.

XPENG has already experienced rapid growth in the ten years since its establishment in 2014. As of the end of last year, its cumulative historical delivery volume exceeded 400,000, and it delivered more than 140,000 new vehicles in 2023 alone.

A Strategic Move

Entry into Hong Kong is a strategic next step for XPENG's business expansion. As an international business hub and one of Asia’s most vibrant cosmopolitan cities, Hong Kong serves as an important springboard for XPENG’s global expansion. Entering the Hong Kong market is strategically important as a model for our market expansion and a testament to our focus to scale. XPENG is fully committed to bringing innovation that serves our customers’ evolving needs as well as realising a future of human-first intelligent mobility in Hong Kong, and around the world.

Brian Gu, Vice Chairman and President of XPENG, said: “Today is a major milestone in XPENG Motors' overseas strategy. With our brand's advanced smart electric vehicle and leading technology, we are committed to providing car owners with smarter travel solutions, as well as an environmentally friendly driving experience. Coupled with Sime Darby Motors’ years of sales experience in the Hong Kong automotive market, we are excited to bring the premium XPENG experience to Hong Kong.”

Tommy Wong, Managing Director of Hong Kong & Macau, Sime Darby Motors (HK) Limited, said: “We are delighted to have been selected as the official authorized agent of XPENG Motors in the Hong Kong market. The electric vehicle market has become very popular among Hong Kong car owners and leasers in recent years. As the market continues to grow, we want to provide our customers and major users with a wide choice of premium, innovative vehicles. We believe that, with XPENG Motors' ambition to establish itself as a smart car leader, will meet Hong Kong consumers' demand for high-quality electric vehicles.”