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    XPEV   US98422D1054

XPENG INC.

(XPEV)
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XPeng Looks to Sell Cars via Major Dealership Chain

04/15/2021 | 07:53pm EDT

By Martin Mou

Chinese electric-vehicle startup XPeng Inc. is poised to expand its sales network by partnering with Zhongsheng Group Holdings Ltd., a major car dealer in the country.

The two companies have signed a memorandum of understanding, under which Zhongsheng is expected to invest in and operate XPeng-branded dealership outlets in China, the car dealer said Friday.

Zhongsheng, which runs stores and service centers for brands including Mercedes-Benz and BMW, said it plans to open XPeng outlets initially in select first-tier Chinese cities or cities where demand for EVs is high.

The partnership, should it proceed, could mark a new sales channel for EV makers, which tend to run their own sales and service outlets. For car dealers, joining hands with EV makers could help them secure a fast-growing segment of the Chinese auto market.

Zhongsheng said that establishing a long-term partnership with XPeng allows it to tap into China's EV market and increase its dealership market share. China Yonda, a competitor to Zhongsheng, is also courting EV makers to form such partnerships.

XPeng is a major Chinese EV startup, alongside U.S.-listed peers Li Auto Inc. and Nio Inc. Considered by some analysts as the most tech-centric of China's EV players, XPeng sold 13,340 vehicles in the first quarter of 2021 and recently launched its third production vehicle, the P5 sedan.

Write to Martin Mou at martin.mou@wsj.com

(END) Dow Jones Newswires

04-15-21 2153ET

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 2.14% 85.55 Delayed Quote.18.44%
DJ INDUSTRIAL 0.68% 35061.55 Delayed Quote.13.78%
LI AUTO INC. -8.05% 30.28 Delayed Quote.5.03%
NIO INC. -4.51% 43.99 Delayed Quote.-9.75%
XPENG INC. -5.25% 41 Delayed Quote.-4.27%
ZHONGSHENG GROUP HOLDINGS LIMITED -1.69% 72.85 End-of-day quote.31.86%
All news about XPENG INC.
07/22XPENG : G3 Ranks Top Quality Among Compact Battery-Powered Electric Vehicles in ..
BU
07/19XPENG : Sets Out P5 Smart Sedan Presale Price Range
MT
07/19Xpeng Inc. Announces Price of New P5 Sedan At $24,694
CI
07/19XPENG : Announces Price Range for P5 New Smart EV Sedan
BU
07/15XPENG : P7 Leads Industry with First i-VISTA 5-Star Smart Car Rating
BU
07/14XPENG : Raises $254 Million from Partial Exercise of Overallotment Option in Hon..
MT
07/09XPENG : Launches G3i Electric SUV, Shipping Set to Begin in September
MT
07/09XPENG : launches G3i smart SUV
BU
07/09XPeng Inc. Launches G3i Smart SUV
CI
07/08SECTOR UPDATE : Consumer Stocks Lower But Perform Better Than Other Sectors in L..
MT
More news
Financials
Sales 2021 14 824 M 2 287 M 2 287 M
Net income 2021 -3 120 M -481 M -481 M
Net cash 2021 26 240 M 4 049 M 4 049 M
P/E ratio 2021 -83,7x
Yield 2021 -
Capitalization 226 B 34 927 M 34 927 M
EV / Sales 2021 13,5x
EV / Sales 2022 7,40x
Nbr of Employees 5 084
Free-Float 59,9%
Chart XPENG INC.
Duration : Period :
XPeng Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends XPENG INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Last Close Price 265,71 CNY
Average target price 301,24 CNY
Spread / Average Target 13,4%
EPS Revisions
Managers and Directors
Xiao Peng He Chairman & Chief Executive Officer
Heng Xia President & Director
Hong Di Gu Vice Chairman & President
Ji Han Xu Vice President-Automotive Research & Development
Qin Liu Independent Director
Sector and Competitors
1st jan.Capi. (M$)
XPENG INC.-4.27%33 869
TESLA, INC.-8.83%647 233
NIO INC.-9.75%73 848
LI AUTO INC.5.03%28 659
NIKOLA CORPORATION-8.32%7 132
FISKER INC.8.67%5 698