Chinese EV designer Xpeng to start a first retail shop in Europe
Key takeaways:
- Xpeng intends to open its first self-operated shop in China this week in Stockholm, Sweden.
- The Chinese electric carmaker has also hit partnerships with dealers in Sweden and the Netherlands to market its cars.
- Xpeng’s expansion into Europe with a retail bricks-and-mortar footprint keeps its most important international growth drive yet.
Expansion plans of Xpeng to open a store in Europe:
Chinese electric vehicle designer Xpeng is preparing to open its first self-operated shop outside of China this week and deepen its retail network with partners as the start-up ramps up its global expansion.
The Xpeng shop will be located in Stockholm, the capital of Sweden, and will open this week.
Xpeng has also signed a contract with Bilia, a giant automotive retailer and distributor in Sweden, to market its cars. Xpeng cars will be stocked in Bilia shops and serviced at its sites.
The Chinese electric vehicle creator also signed a distribution agreement with auto dealer Emil Frey in the Netherlands. Xpeng stated it intends to open its shop in the Netherlands near The Hague in March 2022.
Xpeng’s push into Sweden and the Netherlands with a retail brick and mortar footprint marks its most important international development drive yet, as it seeks to deal half of its cars outside of China in the future.
In 2020, the firm started producing cars in Norway. It works with a regional partner to market cars there and does not yet have its self-operated shop. So far, Xpeng has concentrated on nations that have fast-growing electric vehicle take-up.
But Xpeng’s competitors also have their visions set on European growth. In September, Nio opened a flagship shop in Oslo and started provincial car deliveries. Warren Buffett-backed electric carmaker BYD started exporting electric cars to Norway the previous summer.