Recently, Xpeng Motors and Guangdong Branch of Agricultural Bank of China held a strategic cooperation signing ceremony in Guangzhou. According to the agreement, Guangdong Branch of Agricultural Bank of China will grant a comprehensive credit line of RMB 7.5 billion to Xpeng to support the operation and development of Xpeng business. This credit cooperation is the largest credit granted by the Agricultural Bank of China to the new power enterprise of car making. The variety of credit business indicates the mutual trust between the two sides, the further deepening of the level of cooperation, and the high recognition of the status and development prospect of Xpeng Motors industry by the Agricultural Bank of China.
Xpeng Motors shares jumped 4.6% in premarket trading.
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