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Old 03-21-2020, 11:35 AM   #86
Join Date: Nov 2013
Posts: 7,682
Default XPeng acquires Foday

Zhaoqing Xiaopeng New Energy Investment Co., Ltd., a Xiaopeng Automobile group subsidiary, has acquired 100% of Guangdong Foday Automobile Co., Ltd. Recall that Xpeng has established its own factory in Zhaoqing, Guangdong pr., and media has drawn the obvious conclusion that this acquisition has taken place in order to get hold of a production license for this unit.

Note that following the Identy X and G3, Xpeng has obtained type approval for the P7 under Haima Car's ["HMA"] license. This type approval is for a category "7" vehicle. Foday, which was registered with NDRC as a refit factory till some years ago, does not qualify for category "7", though it can manufacture category "6" vehicles under its "NHQ" license.

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