XPeng Motors, China’s leading intelligent electric vehicle manufacturer, and the global outstanding mobility platform Didi jointly announced a strategic partnership. The two parties will leverage their respective advantages and resources to promote the large-scale application of intelligent electric vehicles and related technologies, accelerating the implementation of “technology inclusiveness and smart equality.” Through this collaboration, XPeng Motors will officially enter the multi-brand strategy phase, further strengthening its technological competitive advantage in the A-level market products. This will make intelligent driving technology a standard feature in the mainstream segmented market, leading to a new era of electric intelligence.
As the core of this strategic cooperation, an A-class intelligent electric vehicle will enter the market as XPeng Motors’ first product under its new brand, with mass production expected to begin in 2024. The project is codenamed “MONA”. The new brand model will have a differentiated positioning from XPeng‘s existing brand products. At the same time, Didi will open up its full ecosystem empowerment for XPeng Motors for the first time, providing strong support in multiple dimensions such as intelligent cockpit, intelligent driving, and shared mobility market for “MONA”. This will help XPeng Motors create popular models in the price range of around 150,000 RMB and further accelerate the application and popularization of autonomous driving assistance and intelligent cockpit technologies in global markets.
To promote a long-term win-win strategic partnership, XPeng Motors will issue 3.25% of its total share capital in Class A common stock upon completion of the transaction, acquiring assets and research and development capabilities related to Didi’s smart electric vehicle project. Didi will become a strategic shareholder of XPeng Motors, with a lock-up period of 24 months for the initial shares.
XPeng Motors has become the first vehicle company to receive comprehensive support from Didi’s ecosystem. Both parties will explore long-term cooperation opportunities for mutual benefit in various areas, including the operation of XPeng models on the Didi platform, brand marketing, financial insurance services, charging facility construction, Robotaxi, and cooperation in international markets.
CEO He Xiaopeng of XPeng Motors stated, “As a globally outstanding mobility platform, Didi shares the same corporate vision with XPeng Motors in leading future travel through technology. The launch of XPeng‘s new brand and products will not only enhance market share through economies of scale but also accelerate the popularization of intelligent driving technology, enabling a wider range of users to enjoy the convenience brought by technological inclusiveness in travel. The collaboration between XPeng and Didi will also enhance both brands’ commercial value and expand into multiple potential areas, leading XPeng Motors towards electrification, intelligence, sharing, and internationalization in the long term. This partnership aims to create the next generation smart mobility ecosystem and explore intelligent driving business models for tremendous growth opportunities.”
Douyin Chairman and CEO Cheng Wei stated, “Douyin has always been committed to promoting the sharing, electrification, and intelligence of the transportation market. XPeng Motors has leading technological advantages in the field of intelligent electric vehicles and also possesses deep accumulation in automotive intelligence technology. Both parties will continue to deepen cooperation in multiple areas to jointly promote the transformation of transportation and automotive industries.”
The trends of electrification, connectivity, intelligence, and sharing in the automotive industry are giving birth to more high-quality collaborations across various sectors. As leading representatives in the fields of intelligent driving and shared mobility, Xiaopeng Motors, and Didi will work together side by side to accelerate the large-scale application of intelligent electric vehicles and explore endless possibilities.