"So we now have this 9-year-old smart EV startup invested by one of the world's largest automakers and the world's largest ride-hailing mobility platform."
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Xpeng to buy Didi's smart electric vehicle project, Da Vinci, as to develop a smart compact EV in an effort to make smart driving more popular in mid-end market. Mass production expected in 2024.
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The Mona project will be the start of a second, or even third, brand for Xpeng, which will be predominantly aimed at general customers but also corporate customers, Xpeng's CEO said.
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The Mona project will be aimed at both corporate and general consumers, but it's uncertain whether Xpeng will create an entirely new channel for the project, according to local media.
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Xpeng saw its biggest one-day gain in early Hong Kong trading since the Volkswagen deal late last month.
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