According to the information from Qichacha data site, Guangzhou Pengbo Automobile Technology Co., Ltd. was formally established recently. The legal representative is Xia Heng, one of the co-founders of XPeng, with a registered capital of 5 billion yuan (source: 观察者网).

The equity penetration chart shows that the company is actually wholly owned by XPeng Power Battery (Hong Kong) Limited. The new company’s business scope includes engineering and technology research and test development, auto parts and accessories manufacturing, battery manufacturing, etc.

From the perspective of business scope, the purpose of Xpeng’s establishment of a new company may still be to continue to promote Xpeng’s R&D investment in the technology field.