Chinese electric vehicle maker XPeng and ride-hailing giant DiDi announced a new strategic partnership this week to collaborate on intelligent and shared electric mobility solutions.
As part of the partnership, XPeng will launch a new EV brand in 2024, with the first model codenamed “MONA.” DiDi will provide support across areas like intelligent driving tech, cabins, and mobility services to assist XPeng in targeting a price range around 150,000 RMB.
The cooperation aims to accelerate mass adoption of automated driving and smart cabin features by making them standard in mainstream EVs.
XPeng and DiDi also plan joint efforts to optimize operations, charging infrastructure, brand marketing, financial services, and international expansion. DiDi’s extensive transportation ecosystem offers synergies across XPeng’s businesses.
In return, XPeng will issue shares equivalent to 3.25% ownership to DiDi after the deal’s completion. This makes DiDi a strategic shareholder in XPeng with a 24-month lock-up period.
According to XPeng Chairman He Xiaopeng, the collaboration allows XPeng to enhance economies of scale, market share, and brand value. It also opens growth opportunities in areas like intelligent driving.
For DiDi, it gains access to XPeng’s leading intelligent EV technology. DiDi Chairman Cheng Wei said it furthers the company’s electrification and intelligence goals for transportation.
The partnership unites two major forces in new mobility to advance EVs, autonomous tech, and transportation services. Their combined resources and innovation capabilities could accelerate the intelligent EV revolution in China and beyond.