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Xiaopeng Auto official announced that it has completed the acquisition of Didi Automobile Business.

2024-06-17 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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On the evening of November 13, Xiaopeng announced that the first delivery of assets for the acquisition of Didi's smart car development business took place on November 13, and after the first delivery, Didi's member companies have become wholly owned subsidiaries of Xiaopeng. and its financial results will be incorporated into Xiaopeng's consolidated financial statements.

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Under the share purchase agreement, Xiaopeng has allocated and issued 58.1642 million Class A common shares to Didi as initial consideration shares, accounting for about 3.25% of Xiaopeng's issued and outstanding share capital following the expansion of the allotted and issued initial consideration shares.

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On August 25, Xiaopeng announced on the Hong Kong Stock Exchange that Xiaopeng signed a share purchase agreement with Didi Group to acquire Didi's smart car development business assets at a total consideration of 5.835 billion Hong Kong dollars (US $744 million). There is a bet agreement between the two sides. Xiaopeng paid 3.25% of the shares of the listed company in the early stage, and Didi needs to meet the SOP and annual sales targets. To acquire further shares, up to 5% at most.

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It is understood that the two sides will launch a new electric vehicle brand, the project large size is "MONA", the first product is A-class intelligent electric vehicle, priced at about 150000 yuan, will be mass production in 2024, and will be sold at both C-end and B-end. In addition to working together to create new brand models, the two sides will also explore cooperation in the operation, brand marketing, financial and insurance services, charging facilities, Robotaxi and international market of Xiaopeng models on Didi platform. After the launch of MONA products, Didi will receive additional consideration shares if sales in the Didi system meet a certain sales target of 100000 vehicles per year, and the highest incentive shares will be given to Didi if it reaches its annual sales target of 180000 vehicles for two consecutive years.

As the second brand created by Xiaopeng Automobile, the new brand model will form a differential positioning with Xiaopeng's existing brand products, focusing on the "150000 price range". At the previous second-quarter results meeting, he Xiaopeng, chairman of Xiaopeng Automobile, revealed to the public that he Xiaopeng would launch fully self-driving cars in the mainstream 150000-tier market to promote the popularization of automobile intelligence.

According to the data of the Federation of passengers, models in the price range of 10-150000 yuan have always been the main force in the market, with sales accounting for no less than 26%. At the same time, with the improvement of consumer awareness, the 150000 yuan family car track has also become the highest concern of consumers and the most competitive field. At present, the product of Xiaopeng car at about 150000 yuan is the G3, but it is precisely because of the lack of competitiveness that this model has always been difficult to give hot results.

As for why Xiaopeng built cars in cooperation with Didi? The explanation given by he Xiaopeng is that the completion of the project code "MONA" is very high, and Didi has previously invested billions of yuan in development, which Xiaopeng believes is a very attractive asset. It is understood that Xiaopeng Automobile will continue to complete all mass production research and development and some sales of MONA on the basis of previous work. Didi mainly supports the sales and operation of travel ecologically, while Xiaopeng will continue to sell from the field of intelligent TO C.

At present, Xiaopeng Automobile will officially enter the stage of multi-brand strategy through cooperation. Just a month before Guan Xuan's cooperation with Didi, Volkswagen announced its stake in Xiaopeng Automobile, and the two sides signed a framework agreement on strategic technical cooperation and minority equity investment, and reached a long-term strategic partnership. It is understood that the two sides plan to jointly develop two Volkswagen brand electric models for China's medium-sized car market, in which Xiaopeng will contribute a complete vehicle platform as well as an intelligent cockpit and intelligent driving system. Volkswagen, on the other hand, provides the world's leading engineering and supply chain capabilities, both of which hang the Volkswagen logo and plan to launch to the market in 2026.

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For the future, Xiaopeng believes that short-term challenges will not change the general trend of the long-term development of China's intelligent electric vehicle market. Xiaopeng will firmly invest in the core technology of electrification and intelligence for a long time. In the following a number of new products to accelerate the release and enter the harvest period.

With the continuous news of cooperation, we can clearly perceive the new trend in the industry: traditional car manufacturers have a certain research and development basis and experience in the field of intelligence, and the new forces of car building have the experience of building smart and new energy vehicles. Technology giants hold resource advantages such as self-driving, on-board interconnection, artificial intelligence and so on. As the new energy vehicle industry moves towards more fierce competition, this kind of "combined warfare" will become the norm. This also means that the competition in the automobile field in the future is no longer a single fight of an enterprise, but a comprehensive strength competition after its own core strength is superimposed by the ability of partners.

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