Xpeng introduces the MONA M03, a new achievement in collaboration with Didi
AshleyAug 19, 2024, 11:02 AM
Xpeng recently announced on the Hong Kong Stock Exchange that significant progress has been made in its acquisition of Didi's intelligent electric vehicle business. On July 30, Xpeng began mass production of the MONA M03, which was officially launched on August 27. With the commencement of mass production, the "start of production" (SOP) milestone stipulated in the previously signed share purchase agreement has been successfully achieved.
According to the agreement, Xpeng will pay the acquisition price to Didi in stages. Reaching the SOP milestone means that Xpeng has issued and distributed 4,636,447 Class A common shares to Didi as part of the consideration, representing approximately 0.24% of the company's expanded share capital. The SOP delivery procedures were completed on August 13, 2024.
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