Xpeng Motors Obtained a Credit Line of RMB7.5 Billion from Bank

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Xpeng Motors Obtained a Credit Line of RMB7.5 Billion from Bank

Tiger Newspress2022-04-27

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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Comment（7）

Quicklearner
·2022-04-27
Good news?
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2
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JC888
·2022-04-27
Huh?? Of the 3 Chinese EV makers, Xpeng has the highest output volume. Yet now they still require a Credit Line?Meaning their car sales rofit margin is razor thin? Does this also imply it will not be profitable for a long time to come.And the Pre market share price still jump? Illogical dun u think.Are we looking beyond 2025 for Xpeng to be a revenue generating firm? Goodness
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ming22
·2022-04-27
Great... Will it go 🚀
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Bspn
·2022-04-27
Ok
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3
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JSTan
·2022-04-27
[Strong] [Strong] [Strong]
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Darrenearns
·2022-04-27
Awesom!!
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TeslaLegend
·2022-04-27
Nice
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