Wednesday, 2024 April 17

XPENG expands European footprint with Germany launch

XPENG Motors (NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announces its official entry into the German market.

The launch comes as XPENG continues its European expansion, with market launches in France, Italy and the UK to follow. With strong sales figures already in Denmark, Norway, Sweden and the Netherlands, XPENG is aiming to secure a 3% market share for the new energy vehicle (NEV) segment in Germany by the end of the year.

Unlike other Chinese manufacturers, XPENG operates through an established network of dealers for its sales strategy. When sales start in May, XPENG will be represented at 24 retail locations across Germany, with a roadmap for this to grow to 120 retail locations by the end of 2026.

Image courtesy of XPENG

Markus Schrick, Managing Director for XPENG Germany, said: “The launch in Germany is a milestone moment for XPENG and we are delighted to be able to take our place in one of the most competitive automotive markets in the world. We are excited to invite our new customers to test and experience the G9 and P7 models and see the quality of our vehicles for themselves. Through our dealer network with already established and EV experienced partners for both sales, services and parts, our models will be available to view and test drive at 24 retail locations across Germany.”

XPENG is set to launch its latest smart EV models, the G9 flagship SUV and the P7 sports sedan, in May, with a further model to follow in the coming months. Both models are already available in Norway, Denmark, Sweden, and the Netherlands.

  • The XPENG G9 features XPENG’s latest powertrain system, battery technology, and advanced driver assistance system (ADAS).
  • The XPENG P7 combines its signature sports sedan profile with greater range, faster charging and a brand-new smart cabin.

XPENG first announced its plans to enter the German market at IAA Mobility in Munich last September. IAA Mobility is the world’s largest mobility event, bringing together leading technology and automotive brands.

KrEurope Market Watch
KrEurope Market Watch
KrEurope Market Watch covers the latest in technology trends, business news as well as capital market moves between China and Europe.
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