XPENG Acquires DiDi's Smart Auto Development Biz Assets, Nails Strategic Cooperation with DiDi
$XPENG-W(09868.HK$ announced that, for the purpose of forming a strategic cooperation with DiDi Global Inc. $DiDi Global Inc(DIDIY.US$ (DiDi, or the Seller) with respect to the smart auto development business currently conducted by DiDi Group that develops, designs and engineers the New Smart EV Model (Target Business), the Company entered into the Share Purchase Agreement with DiDi and the Target HoldCo, pursuant to which the Company conditionally agreed to acquire the entire issued share capital of Xiaoju Smart Auto Co. (the Target). The total maximum Consideration of the Acquisition will be approximately HK$5.835 billion.
Underpinned by the vision of the significant synergies, the Company became the first automotive manufacturing company with full support from the ecosystem of DiDi, and the Company and DiDi also simultaneously entered into the Strategic Cooperation Agreement, pursuant to which the Company and DiDi agreed to embark on cooperation in various areas, including the research and development of the New Smart EV Model, operation of the Company’s Smart EV models on DiDi’s ride sharing platform, marketing, financial and insurance services, charging, Robotaxi and the joint development of international market.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
102711703 : How will it impact DiDi?