Xpeng's main models will debut in Hong Kong in mid-May, with deliveries expected to begin in the third quarter.
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Xpeng (NYSE: XPEV) has reached an agreement with a distributor to offer its electric vehicle (EV) models in Hong Kong as it expands its international presence.
The EV maker signed a deal with Malaysia's Sime Darby Group on April 9 at its headquarters in Guangzhou, Guangdong province, authorizing the latter to be Xpeng's official distributor for the Hong Kong market, according to a press release today.
Sime Darby will open the first Xpeng flagship store in the third quarter, introducing the Xpeng G6 SUV (sport utility vehicle) and the Xpeng X9 MPV (Multi-Purpose Vehicle), according to the release.
Xpeng's main models will debut in Hong Kong in mid-May, with deliveries expected to begin in the third quarter of this year, the company said.
For Xpeng, Hong Kong is an important bridge and window to globalization, and entering the Hong Kong market is strategically important as a template for Xpeng's globalization, it said.
Xpeng and Sime Darby will work together to embark on a strategic deployment to jointly shape the EV maker's market positioning in Hong Kong, it said.
"Sime Darby's many years of sales experience in the Hong Kong automotive market greatly adds to our confidence that we will be successful in the Hong Kong market," said Brain Gu, Xpeng's honorary vice chairman and co-president, at the signing ceremony.
In addition to Hong Kong, Xpeng also announced that it will partner with Xin Kang Heng Group in Macau to offer models including the G9, X9, G6 and P7i there.
Deliveries of left-hand drive Xpeng models are expected to begin in Macau in May this year, the EV maker said.
Xpeng has increased its efforts on overseas markets this year, as competition in the domestic market grows red hot.
On February 18 -- the first working day after China's 2024 Lunar New Year holiday -- Xpeng chairman and CEO He Xiaopeng said in an internal letter that 2024 will be the first year of V 2.0 for Xpeng's internationalization efforts.
On March 19, Xpeng's management said in an analyst call following the company's fourth-quarter 2023 earnings announcement that it will significantly accelerate its entry into overseas markets in 2024, with plans to launch an internationalized left-hand-drive version of the G6 for the global market in the second quarter and a right-hand-drive version of the G6 in the second half of the year.
So far this year, Xpeng has announced dealer partnerships in several Middle Eastern countries and Thailand.
Late last month, Xpeng launched the G9 and P7 in Germany and said it also plans to enter other European markets including France, Italy and the UK.
Yesterday, Xpeng said it shipped nearly 1,000 G9 SUVs to Germany, its single largest overseas shipment.
Xpeng president Wang Fengying has taken over overseas business, report says
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