XPENG secures ICBC backing as it accelerates global expansion and smart mobility ambitions

Shanghai (Gasgoo)- XPENG on January 6 signed a strategic cooperation agreement with the Guangdong branch of the Industrial and Commercial Bank of China (ICBC) at its technology park, strengthening the automaker’s financial foundation as it scales up operations at home and abroad.

Photo source: XPENG

Under the agreement, ICBC’s Guangdong branch will extend a credit line of 10 billion yuan to XPENG. The financing will be directed toward corporate funding needs, international operations and cash management, providing broad support for day-to-day operations and longer-term strategic initiatives. The partnership reflects the bank’s confidence in XPENG’s fundamentals and growth trajectory, and is expected to enhance the company’s financial resilience and flexibility.

XPENG chairman and CEO He Xiaopeng said the company plans to further expand its investment footprint in Zhaoqing, adding that the new partnership provides an opportunity to combine financial resources with technological innovation. He noted that the collaboration is aimed at fostering a broader smart mobility ecosystem while supporting China’s push for greater technological self-reliance.

XPENG’s first wholly self-built vehicle manufacturing base, located in the Zhaoqing High-Tech Zone, is now operating at a pace of one vehicle rolling off the line every 90 seconds. The facility produces the MONA M03, positioned as a benchmark pure-electric A-segment model. As one of China’s leading smart EV makers, XPENG continues to deepen its capabilities in intelligence and electrification, with a growing portfolio of in-house developed models for both domestic and overseas markets. In 2025, the company delivered 429,445 vehicles, a year-on-year surge of 126%, including 45,008 units overseas, up 96% from the previous year, underscoring strong momentum in global expansion.

Looking ahead, XPENG said it will further increase investment in core technologies such as physical AI and advanced vehicle manufacturing, while continuing to build out its sales and service networks worldwide. The company aims to evolve into a global leader in embodied intelligence and physical AI-driven mobility. The strategic partnership with ICBC is expected to provide critical financial support as XPENG enters its next phase of large-scale growth.