Xpeng plans a third EV factory

Electric start-up Xpeng has announced the construction of a third factory for electric cars. The planned plant in the central Chinese city of Wuhan is to have an annual capacity of 100,000 EVs, also produce powertrains and have a development laboratory, as Xpeng recently announced. To this end, the company is cooperating with the provincial government – which probably means that it will receive benefits or even subsidies. However, the company, which is listed on the New York Stock Exchange, did not initially disclose an investment sum or a production start date.