Xpeng: the group, its brands and who controls it
Facts checked
- Private
- NYSE XPEV
- HKEX 9868
XPeng Inc. is a Guangzhou carmaker founded on 15 August 2014. The founding story is often told wrongly. The company was set up by two former GAC engineers, Xia Heng and He Tao, together with Yang Chunlei; He Xiaopeng — then an Alibaba executive, and before that the founder of the mobile browser company UCWeb — put money in at the start and lent the venture his name, but he did not run it. He left Alibaba in August 2017 and only then took charge as chairman and chief executive.
Xpeng sells battery-electric cars in China and exports more of them than any of the other companies in this group. It builds at Zhaoqing in Guangdong and at a second plant in Guangzhou, and has had the P7+ built under contract by Magna Steyr in Graz, Austria for European sale. By January 2026 it reported selling in 60 overseas countries and regions, with 380 overseas stores of which 290 were in Europe, alongside 721 outlets in China.
Two outside shareholders matter to the story. Alibaba, through its subsidiary Taobao China, invested before the 2020 New York listing and was the largest outside holder with 13.3%; it has sold down repeatedly, reaching 4.94% after a sale completed on 22 March 2024. Volkswagen took about 4.99% of the share capital in December 2023 under an agreement announced in July 2023, and the two are jointly developing Volkswagen-badged mid-size electric models for China on Xpeng's platform and software, with the first two due on the road in 2026. Volkswagen also became the first outside customer for Xpeng's VLA 2.0 driver-assistance software in February 2026.
Xpeng delivered 429,445 vehicles in 2025, 125.9% more than in 2024, on revenue of RMB 76.72 billion. It lost RMB 1.14 billion over the year but turned its first quarterly net profit, RMB 0.38 billion, in the fourth quarter.
Key facts
| Chinese name | 小鹏汽车 “SHYAOW-pung CHEE-chuh” 小鹏 Xiǎopéng is founder He Xiaopeng's given name — 小 'little' plus 鹏 Péng, the enormous mythical bird of the Zhuangzi. 汽车 qìchē means 'motor car'. So the name reads literally as 'Xiaopeng Motors'. |
|---|---|
| Legal name | XPeng Inc. |
| Ownership | Private |
| Founded | 2014 by Xia Heng, He Tao and He Xiaopeng |
| Headquarters | Guangzhou, Guangdong, China |
| Vehicles | Cars |
| Listings | NYSE XPEV and HKEX 9868 |
| 2025 deliveries | 429,445 vehicles, up 125.9% on 2024 |
| 2025 revenue | RMB 76.72 billion, up 87.7% on 2024, at an 18.9% full-year gross margin |
| 2025 result | Net loss of RMB 1.14 billion for the year; first-ever quarterly net profit of RMB 0.38 billion in the fourth quarter |
| Cash position | RMB 47.66 billion (US$6.81 billion) as of 31 December 2025 |
| Overseas footprint | 60 overseas countries and regions and 380 overseas stores as of January 2026, of which 290 stores in 28 European countries; more than 1,000 outlets worldwide |
| Volkswagen stake | About 4.99% of XPENG's issued and outstanding share capital, acquired in December 2023 under an agreement announced in July 2023 |
| Alibaba stake | 13.3% at the 2020 listing, reduced to 4.94% (75,918,464 ordinary shares) after a sale completed on 22 March 2024 |
| Employees | 19,884 as of 31 December 2025 |
Ownership tree
Who controls Xpeng?
Volkswagen Group holds a stake in Xpeng at 4.99% since December 2023.
Volkswagen states that it acquired around 4.99% of XPENG's total issued and outstanding share capital in December 2023, under a framework agreement the two announced in July 2023. The purchase price is not given in the Volkswagen release checked here; contemporaneous reporting put it at about US$700 million, which this record does not confirm from a primary document. The stake sits alongside a platform and software collaboration: two mid-size Volkswagen-brand electric models for China, starting with an SUV, due on the road in 2026, plus a joint sourcing programme. In February 2026 Volkswagen became the first outside customer for XPeng's VLA 2.0 driver-assistance software. It is a minority stake and a partnership, not a joint-venture company.
| Holder | What it is | Share | Since | What the source says |
|---|---|---|---|---|
| He Xiaopeng | holds a stake in | not published | 15 August 2014 | He Xiaopeng backed XPeng at its founding on 15 August 2014, alongside Xia Heng, He Tao and Yang Chunlei, and lent it his name, but stayed at Alibaba until August 2017, when he left to run the company as chairman and chief executive. His shareholding percentage is not verified in this record. |
| Alibaba Group Holding Limited | holds a stake in | 4.94% | September 2019 | Alibaba invested through its subsidiary Taobao China before XPeng's 2020 listing and was its largest outside shareholder, holding 19% of the Class A stock or 13.3% of the company as of 26 August 2020. It has sold down since: 25 million American depositary shares in December 2023, then 33 million more completed on 22 March 2024 at about US$4.76 per ordinary share, or US$314 million, cutting its holding from 141,918,464 ordinary shares (9.23%) to 75,918,464 (4.94%). Whether it has sold further since March 2024 is not verified here. |
Brands
| Brand | Held | Origin | Founded | Models | Markets |
|---|---|---|---|---|---|
| 小鹏Xpeng | directly | China | 2014 | 5 | 15 |
Xpeng: questions people ask
- What does Xpeng mean?
- It is the founder's name. The Chinese name 小鹏汽车 (Xiǎopéng Qìchē) is literally 'Xiaopeng Motors', after He Xiaopeng; 鹏 is the vast mythical bird of the Zhuangzi. The export spelling compresses Xiaopeng to Xpeng.
- Who owns Xpeng?
- It is a listed company with no controlling owner. He Xiaopeng is chairman and chief executive and its best-known shareholder. Volkswagen has held about 4.99% since December 2023, and Alibaba, once the largest outside holder at 13.3%, had cut its stake to 4.94% by March 2024.
- Does Volkswagen own Xpeng?
- No. Volkswagen holds a minority stake of about 4.99% acquired in December 2023, and the two companies are jointly developing Volkswagen-badged electric models for the Chinese market on Xpeng's platform. It is a partnership plus a small shareholding, not control.
- Who founded Xpeng?
- Xia Heng and He Tao, two engineers who had worked at GAC, set the company up on 15 August 2014 with Yang Chunlei. He Xiaopeng backed it financially and gave it his name, but stayed at Alibaba until August 2017, when he left to run the company himself.
- Is Xpeng sold in the United States?
- No. Xpeng's shares trade in New York, but it sells cars in China and in about 60 overseas countries and regions elsewhere, chiefly in Europe, Southeast Asia, Australia and, from 2026, Latin America and the Gulf.
Related
Sources for Xpeng
- XPeng Inc. / U.S. Securities and Exchange Commission, XPENG Reports Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results (Form 6-K, Exhibit 99.1, filed 20 March 2026). Read .
- CnEVPost, Xpeng's sales outlets surpass 1,000 as global footprint expands to 60 countries. Read .
- Volkswagen Group, Ready for next EV push: Volkswagen enters into agreement with XPENG for fast joint development of two smart e-cars. Read .
- CnEVPost, Alibaba's stake in Xpeng drops to 4.94% after latest reduction. Read .
- Wikipedia, XPeng. Read . Finding aid, cited for the founding date and founder list, the employee count and the Zhaoqing/Guangzhou/Graz plants.
- CnEVPost, Xpeng secures VW as first customer for VLA 2.0; targets 1 million overseas EV sales by 2030. Read .