Chinese electric vehicle maker Xpeng said on Monday it had secured a credit facility of RMB 10 billion ($1.4 billion) from China CITIC Bank’s Guangzhou branch to support its business operations and development.
The agreement was signed in a ceremony attended by Xpeng Vice Chairman and Co-President Brian Gu and Xue Fengqing, President of China CITIC Bank Guangzhou Branch.
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The company said the facility would improve cash utilization efficiency and help optimize settlement costs, while further strengthening cooperation with the bank.
Xpeng has delivered over 30,000 vehicles for nine consecutive months as of July. In overseas markets, the company delivered 18,701 vehicles in the first half of 2025, up 217 percent year-on-year, and has expanded into 46 countries and regions. Xpeng ranks among the top six global pure electric vehicle brands in terms of sales.
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In the first seven months of the year, Xpeng delivered 233,906 vehicles, representing a 270 percent increase compared with the same period in 2024. The company aims to double its deliveries in 2025 compared to 2024, having already surpassed total 2024 deliveries in the first half of this year.