XPeng Motors has established a new subsidiary with a focus on battery manufacturing operations. The company named Guangzhou Pengbo Automotive Technology Co. was founded on November 16 with a registered capital of RMB 5 billion ($700 million).
XPeng co-founder and president Henry Xia as legal representative, according to his registration information. This subsidiary may be in preparation to develop its own batteries in the future.
Guangzhou Pengbo Automotive Technology will be engaged in battery manufacturing, battery parts production, battery sales, battery parts sales, automotive parts research and development, and electric motor research and development and control systems.
It’s unclear whether the move means the XPeng will enter the battery production space, but it’s a noteworthy development.
Not only Xpeng, NIO has also confirmed developing its own battery. NIO will manufacture its new battery pack in 2024, and will support 800V high-voltage fast charging, said NIO CEO William Li.
On August 13, 2021, XPeng disclosed a patent regarding battery life prediction which can significantly improve prediction accuracy.
In september, XPeng diversifies EV batteries sources, CATL is no longer its largest supplier. To diversify its electric vehicle battery supply, Xpeng is working with Sunwoda, a smaller Chinese battery maker, to develop a fast charging battery for the recently launched G9 electric SUV.
