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LB Select
2023.08.28 01:43

XPENG-W and DiDi's Collaboration Details

  1. XPENG-W acquired DiDi's intelligent driving business and assets for a total consideration of HKD 5.835 billion (USD 744 million).

  2. The consideration for the acquisition was completed in the form of share issuance, with a maximum of 91.13 million shares issued, accounting for approximately 5% of the expanded share capital.

  3. The share issuance was completed in four batches: 58.16 million shares were issued on the delivery date of the acquisition; 4.63 million shares were issued when mass production vehicles started delivery; 14.05 million shares were issued when the first phase of new vehicle deliveries reached 180,000 units; and 14.27 million shares were issued when the second phase of new vehicle deliveries reached 180,000 units.

  4. The acquisition does not involve any cash payment. XPENG-W acquired DiDi's assets, and DiDi did not spend money to purchase XPENG-W shares.

  5. The purpose of the cooperation is for XPENG-W to acquire DiDi's ride-hailing market, increase its own sales volume, and promote the improvement of its intelligent driving capabilities. To achieve this, XPENG-W will develop a dedicated A-level car codenamed "MO­NA", which is expected to be mass-produced in 2024.

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