Xpeng

Xpeng Motors Chairman and CEO He Xiaopeng denied recent media reports that he waited for a week at the office of power battery giant CATL to secure battery supply.

Xpeng announced Monday that it will reduce the 3,000 kilowatt hours per year of free charging it offers to customers to 1,000 kilowatt hours per year, effective Aug. 1.

Xpeng CEO He Xiaopeng said he wants the G3i to be the smart SUV of choice for young people priced under RMB 200,000 ($30,870).

Xpeng's free charging credit for owners will be scaled back from 3,000 kilowatt hours per year to 1,000 kWh, a change expected to take effect July 12, less than a year after it was announced, ifeng.com reported Saturday.

Xpeng Motors on Friday launched the G3i, a facelifted version of the Xpeng G3 SUV, with a price range of RMB 149,800 ($23,100) - 185,800 yuan after subsidies.

The move is expected to boost liquidity for Xpeng stock and increase the likelihood it will be included in the Hong Kong-Mainland Stock Connect as early as the fourth quarter, Citi said.

Shanghai contributes 24 percent of Nio's sales in January-May. It is followed by Beijing with 8 percent, Hangzhou with 7 percent, Guangzhou with 5 percent, and Shenzhen with 5 percent.

Xpeng Motors, listed in Hong Kong on July 7, will soon be included in the Hang Seng indexes, which is expected to see an inflow of passive investment funds tracking them.

Xpeng Motors established a new car sales company in Sanya, Hainan Province, southern China, on July 7, with registered capital of RMB 10 million ($1.55 million), according to data provider Qichacha.

The site for Xpeng's production base in Wuhan was confirmed in late June when it bought an industrial site in Wuhan Economic and Technological Development Zone for RMB 212.51 million ($32.9 million).