XPeng’s Partnership With Haima Ends as OEM Settlement Expires

On Wednesday, Haima Car stated by way of an investor interplay platform that the corporate’s partnership with XPeng ended on December 31, 2021, including that it has all the time been open and energetic in exterior cooperation.

Based in 1988, Haima’s primary trade is automotive production and services and products. In 2017, XPeng entered a partnership with Haima when it didn’t but have automotive production {qualifications}, with the latter generating its first automotive, the XPeng G3.

At the present, XPeng has 3 fashions on sale: the G3, P7 and P5. The corporate has additionally formally introduced the G9 SUV on the Guangzhou Auto Display. It has now certified to provide automobiles and has a manufacturing unit in Zhaoqing, Guangdong Province, and is construction new crops in Guangzhou and Wuhan.

In August closing 12 months, the second one segment of the Zhaoqing website online began development – the website online’s annual output capability will in the long run succeed in 20,000 gadgets. On July 31, 2021, XPeng formally began the Wuhan plant mission with a deliberate capability of 100,000 gadgets, which is anticipated to begin manufacturing in 2023.

Because of a pointy decline of gross sales quantity in 2017, Haima started to lose cash and confronted the chance of being delisted in 2019. With a purpose to eliminate the delisting catch 22 situation, Haima became losses into income in 2019 thru a chain of changes similar to taking away idle property to complement the corporate’s capital. On the other hand, such measures can not remedy basic issues of its building so merely.

Consistent with efficiency information launched by means of Haima, in 2020, the corporate misplaced greater than 1.3 billion yuan ($204 million). Dropping the OEM order from XPeng will additional worsen its losses.

SEE ALSO: XPeng Delivered 16,000 Good EVs in December 2021, a 181% Building up YoY

At the present, Haima Car has 4 fashions on sale, particularly a plug-in hybrid fashion Haima 6P, gasoline fashions 7X and 8S, and a natural electrical fashion Aishang EV. Haima offered a cumulative 16,500 automobiles within the first part of 2021, 11,200 of which have been XPeng G3 SUVs, accounting for 67.95% of the entire.

As well as, Haima stated on July 21 that its spouse FAW would switch its stake to Hainan Construction Holdings with out repayment, which means the tip of Haima’s 23-year partnership with FAW.