XPeng Motors: Construction of New Wuhan Production Site Completed, Awaiting Final Inspection and Acceptance
XPeng Motors disclosed in its 2024 annual report that the company owns the land use rights for a plot of land exceeding 1 million m² in Wuhan, Hubei Province, which will expire in 2072 or later. The company began constructing a new manufacturing base on this land in July 2021. As of March 31, 2025, the construction of the new Wuhan production site has been completed and is awaiting the final inspection and acceptance procedures by relevant government departments. The group has mortgaged certain production buildings of its Guangzhou and Zhaoqing factories, the land use rights of the Wuhan base and XPeng Technology Park in Guangzhou, and the equipment of the Wuhan base for long-term bank loans, with a total assessed value of 5.36 billion yuan.
