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Xpeng (XPEV) – Introduction and background |
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Xpeng Inc. (XPENG) is a prominent electric vehicle company known for its innovative and technologically advanced electric cars. Founded in 2014 by He Xiaopeng, Xpeng aims to revolutionize the automotive industry by producing smart, efficient, and sustainable electric vehicles. The company operates as a major player in the Chinese EV market and has expanded its reach to global markets, offering a diverse lineup of electric vehicles including sedans and SUVs.
Xpeng’s journey began with the launch of its first production model, the G3 electric SUV, in 2018. The G3 garnered positive reception, showcasing the company’s dedication to creating high-performance EVs with cutting-edge autonomous driving capabilities and advanced connectivity features. In subsequent years, Xpeng introduced the P7 electric sports sedan, further solidifying its position as a formidable competitor in the EV space. Throughout its history, Xpeng has been dogged by allegations of intellectual property theft, notably from Tesla.
In 2020, Xpeng went public on the New York Stock Exchange (NYSE) in a much-anticipated IPO, attracting significant interest from investors looking to capitalize on the growing demand for electric vehicles. Major shareholders include Alibaba group, Bank of America, and Morgan Stanley.
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