- Electric vehicle company XPeng Inc (NYSE:XPEV) has signed an agreement with the Zhaoqing Municipal Government and the Zhaoqing High Technology Industry Development Zone to expand XPeng Zhaoqing Smart EV Manufacturing Base in Guangdong Province.
- The Phase Two expansion project is expected to boost the design production capacity at the Zhaoqing Base from 100,000 units to 200,000 units per annum.
- The move will help XPeng to capture the increasing consumer demand for its smart EVs.
- Price Action: XPEV shares are trading higher by 2.22% at $38.71 in premarket on the last check Wednesday.
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