XPeng Inc. announced that it has entered into a Memorandum of Understanding (“MoU”) with Zhongsheng Group to establish a long-term strategic partnership to provide both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further accelerate the Smart EV adoption in China.

Through the partnership, the Company will leverage Zhongsheng’s well-established dealership network and expertise in serving consumers for mid-to-high end automobiles to further accelerate XPeng’s sales growth, while strengthening its after-sales services capabilities.

Pursuant to the partnership, Zhongsheng Group will be investing in and operating authorized XPeng branded dealership outlets to provide smart EV sales and services. Such sales and services facilities will be first launched in tier-1 or high-potential cities in China within 2021.

Looking ahead, both parties will also explore more strategic cooperation opportunities in business model innovations, creating long-term competitive advantages and value propositions to seize huge growth potential in Chinese Smart EV market.