“AA” MSCI ESG Rating Tops Global Auto Peers
GUANGZHOU, China–(BUSINESS WIRE)–$XPEV #XPEV–XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced the release of its inaugural Environmental, Social and Governance Report (the “ESG Report”), detailing the Company’s strategy and outstanding achievements in ESG performance.
As part of its commitment to ESG, XPeng has curated an innovative core concept of X-SEG (Smart, Efficient and Green) that guides the establishment and operations of its factories and underpins all major aspects of the Company’s business operations, from supply chain management and green manufacturing, to product safety management, eco-friendly operations and governance.
The Company’s leadership in ESG is recognized globally. For the second consecutive year, in 2021 XPeng received an “AA” rating from MSCI ESG Research, the highest MSCI ESG rating among automobile companies worldwide. Notably, MSCI ESG Research scored XPeng 10 and 9.1 in the categories of Product Carbon Footprint and the Opportunities in Clean Tech, two of the key areas that contributed to the ESG ratings. This compares with industry averages in the same categories of 7 and 5.5. Furthermore, as part of their scoring review, MSCI ESG Research highlighted XPeng’s financial and personnel commitment to advancing technology as a key driver in the Company’s ability to deliver long-term sustainability-focused innovation.
XPeng is one of the pioneers working to make Smart EVs accessible to the masses. “Adherence to exemplary ESG standards in operations is integral to our core values and culture, impacting every decision we make,” said He Xiaopeng, Chairman & CEO of XPeng. “As a leader in the Smart EV industry and global corporate citizen, we take seriously our responsibility in leading the way by modelling outstanding, integrated practices in ESG. Through our efforts we aim to be a positive force in the development of future mobility and the betterment of societies around the world.”
Additional achievements highlighted in the ESG Report include:
Significant progress on recycling and reducing emissions with innovative technologies
- Compared with internal combustion engine vehicles, XPeng’s Smart EVs delivered in 2020 reduced emissions by approximately 5,520 tons of CO2
- As of May 2021, XPeng achieved 100% recycling and reuse rate of recyclable solid waste
- As of March 31, 2021, XPeng had 759 patents and 504 registered trademarks in China and other jurisdictions
Record level safety performance with superior product quality and technology
- XPeng P7 became the first to receive the 5-Star rating from the Chinese i-VISTA intelligent vehicle testing platform
- XPeng G3 and P7 received 5-Star rating with scores of 92.2% and 89.4% respectively in the C-NCAP Crash and Safety Test
- In 2020, XPeng reported no work-related fatalities or lost time due to work-place injuries
- Continued commitment to fostering an open and inclusive culture to attract and retain talents
- Contribution to disaster relief, poverty alleviation and subsidy of agriculture
- Sound governance structure and protocols to ensure compliance at all levels of the Company
For more information on MSCI ESG ratings, click here.
About XPeng Inc.
XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/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 manufactured at its plant in Zhaoqing, Guangdong province. For more information, please visit https://en.xiaopeng.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about XPeng’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPeng’s goals and strategies; XPeng’s expansion plans; XPeng’s future business development, financial condition and results of operations; the trends in, and size of, China’s EV market; XPeng’s expectations regarding demand for, and market acceptance of, its products and services; XPeng’s expectations regarding its relationships with customers, contract manufacturers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPeng’s filings with the SEC. All information provided in this press release is as of the date of this press release, and XPeng does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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