• XPENG partners with leading insurers in China to offer insurance coverage for smart vehicles

• XPENG introduces an advanced online insurance system that handles everything from obtaining quotes to processing claims

• XPENG advocates for expediting the development of insurance solutions for autonomous driving

Guangzhou, China, May 16, 2022 -- XPENG (NYSE: XPEV and HKEX: 9868), a leading Chinese smart EV company, has announced strategic partnerships with eight top insurance companies in China, including PICC Property and Casualty Co Ltd, Ping An Property & Casualty Insurance Co of China Ltd, and China Pacific Property Insurance Co Ltd. This collaboration aims to introduce a smart insurance service program and related products, providing enhanced insurance coverage for car owners.

The partnerships with leading insurers enable XPENG to develop insurance programs specifically designed for smart vehicles equipped with ADAS (Advanced Driver Assistance System) capabilities. The objective is to support the advancement of autonomous driving technology and expedite its commercial application, ultimately making autonomous driving accessible to the wider public.

XPENG Motors has launched a new and comprehensive intelligent online insurance service system that covers the entire process, from quote requests to claims processing. With the support of its insurance partners, XPENG has successfully established this intelligent insurance service system. The online insurance penetration rate among XPENG car owners is nearly 90%, and the satisfaction rate for intelligent claims processing stands at an impressive 98%. This system has played a pivotal role in enhancing efficiency in new vehicle delivery, improving user experiences, and gathering valuable feedback. To date, the intelligent insurance claims service has served nearly 40,000 car owners.

"XPENG is a leading player in autonomous driving technology in China. I believe we are also ahead of others in the market. Therefore, we need the support of policies, regulations, and the insurance industry. It is through a collaborative exploration of the autonomous driving market's future, prioritizing safety, that we can achieve technological innovation," said He Xiaopeng, Chairman and CEO of XPENG.

Moving forward, XPENG Motors will deepen its collaboration with various insurance companies to jointly explore and establish insurance product systems tailored specifically for autonomous driving technology and autonomous vehicles. This commitment aims to foster the healthy development of the smart automotive industry and accelerate the integration of autonomous driving into society.

About XPENG

XPENG is a leading Chinese Smart EV company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to drive Smart EV transformation with technology, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPENG develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system, as well as core vehicle systems including the powertrain and the electrical/electronic architecture. XPENG is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. The Company’s Smart EVs are mainly manufactured at its plants in Zhaoqing and Guangzhou, Guangdong province. For more information, please visit https://heyXPENG.com.

Contacts:

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PR Department

XPeng Inc.

Email: pr@xiaopeng.com 

Source: XPENG Motors