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Chinese EV Maker XPeng Setting Up Third Plant to Meet Demand
- U.S.-listed firm plans new production base in city of Wuhan
- It will have an annual capacity of 100,000 units: statement
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XPeng Inc. is setting up its third production base in the city of Wuhan as the Chinese carmaker taps into surging demand in the world’s largest market for electric vehicles.
The U.S.-listed firm has tied up with the local provincial government to build a manufacturing base with annual capacity of 100,000 units, according to a statement Thursday. XPeng didn’t disclose a timeline for commencing production or proposed investment for the new plant, which will also house powertrain and research-and-development facilities.