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Production qualification has always been the most urgent problem to be solved by the new domestic car-making forces. Without production qualification, we can only seek the mode of "OEM production". On March 20, the news that Xiaopeng Automobile acquired Guangdong Fudi Automobile came out. Through the change of enterprise information, it was found that Xiaopeng Automobile's subsidiaries had 100% control of Guangdong Fudi Automobile.

The change of enterprise information also shows that the equity change of Guangdong Fudi Automobile occurred on March 19, the shareholder was changed to Zhaoqing Xiaopeng New Energy Investment Co., Ltd., and the legal representative was changed to Xia Heng, co-founder of Xiaopeng Automobile.

In response to the news, Xiaopeng Automobile official response said,"Zhaoqing Xiaopeng New Energy Investment Co., Ltd. since its establishment, aims to better improve the supply chain layout of Xiaopeng Automobile, for the future development of the company's products to make full preparations, this equity acquisition is the two sides in line with the optimization of the industry market high-quality resources allocation purpose to make the choice, I believe this is a win-win decision."

The specific funds for this acquisition are not yet clear.

Information introduction, Guangdong Fudi Automobile Co., Ltd. is a designated automobile manufacturer of the Ministry of Industry and Information Technology of the People's Republic of China. Founded in April 2001, the factory is located in Shishan Science and Technology Industrial Park, Foshan City, Nanhai District, Guangdong Province. The company mainly produces pickup trucks and SUV products. At present, the product line includes three models: Lanfu SUV, Lion F22 pickup truck and Lion F16 pickup truck.

Due to changes in the market environment and brand, product promotion problems, Fudi Automobile also encountered difficulties. Ye Qing, chairman of Fudi Automobile, said last year that Fudi's whole vehicle business and stamping business are facing great tests, especially the whole vehicle business, which has declined sharply since the first half of last year and faces great difficulties. The stamping business still has a small increase due to the diversification of customers and the increment brought by new projects.

Xiaopeng Automobile will solve the problem of production qualification well after winning Guangdong Fudi Automobile.

Before this, Xiaopeng G3, a pure electric vehicle owned by Xiaopeng Automobile, was produced by Zhengzhou Factory of Haima Automobile. The new model launched in the future may be produced by Zhaoqing Factory of Guangdong Province built by Xiaopeng. Relevant personage has revealed that the upcoming Xiaopeng car's second model Xiaopeng P7 will be put into production in Zhaoqing base.

As early as May 2017, Xiaopeng Automobile Zhaoqing Base has been finalized. Xiaopeng Automobile officially announced that its 10 billion-level production base planned jointly with Zhaoqing City Government will be built in High-tech Zone of Zhaoqing City. The project is divided into three phases, with a total investment of 10 billion yuan in Phase I and Phase II, and a total planned land area of 3000 mu. After the completion of the first phase of construction of the base, the maximum production capacity of 100,000 units/year can be realized.

It is not uncommon for new forces to acquire production qualifications through acquisitions. Before this, WeiMa Automobile acquired Dalian Huanghai for 1.18 billion yuan to obtain production qualification; Ideal Automobile acquired Chongqing Lifan Automobile Co., Ltd. for 650 million yuan; Baiteng acquired FAW Huali at a price of 1 yuan and assumed debts of 850 million yuan; Bojun Automobile established a joint venture company with FAW Xiali to produce new energy vehicles.

Xiaopeng Automobile was founded in 2014 and headquartered in Guangzhou. The first model G3 was officially launched in December 2018 and produced by Haima Automobile. Data show that the cumulative sales volume of Xiaopeng G3 in 2019 is 16608 vehicles, which is far from the original planned target of 40,000 vehicles. Xiaopeng's second model, the P7, will be launched in the second quarter of 2020.

In November 2019, Xiaopeng Automobile announced the completion of $400 million financing, which introduced a new investor, Xiaomi Group, and the existing shareholders, including He Xiaopeng, held shares. With the latest financing, Xiaopeng is currently valued at nearly Rmb25 billion. In addition, Xiaopeng Automobile will also prepare for IPO overseas listing.

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