Volkswagen completes delivery of shares in Xiaopeng Motors! Over 5 billion yuan of investment funds have been received.

Volkswagen Successfully Delivers Shares in Xiaopeng Motors, Receiving Over 5 Billion Yuan in Investment Funds!

【PhoneAuto News】On December 6th, Xiaopeng Motors released an announcement regarding the signing of a technical framework agreement with Volkswagen (China) Investment Co., Ltd. (Volkswagen) for strategic technological cooperation; and the issuance of Class A common shares to Volkswagen (or Volkswagen’s nominee, a subsidiary of Volkswagen) based on the stock purchase agreement. All the prerequisites stated in the stock purchase agreement have been met and the investment was completed on December 6, 2023, according to the terms and conditions of the stock purchase agreement. Volkswagen’s investment in Xiaopeng Motors of over 5 billion yuan has already been received.

The announcement states that a total of 94,079,255 shares of Class A common shares (approximately 4.99% of the total issued and outstanding shares of the company after completion) have been successfully allocated and issued to Volkswagen Finance Luxembourg S.A. (a subsidiary of Volkswagen) at a purchase price of $15 per American Depositary Share (calculated based on a ratio of two Class A common shares per American Depositary Share and an exchange rate of 7.8096 Hong Kong dollars to 1.00 US dollar, equivalent to HK$58.6 per share of Class A common shares). The total face value of the subscribed shares is $940.79255.

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The total purchase price for all the subscribed shares is approximately $706 million. The net amount of the investment proceeds (after deducting the relevant costs and expenses payable by the company) is approximately $705 million. The net value of the purchase price (after deducting the relevant costs and expenses payable by the company) is $15 per American Depositary Share (calculated based on a ratio of two Class A common shares per American Depositary Share and an exchange rate of 7.8096 Hong Kong dollars to 1.00 US dollar, equivalent to approximately HK$58.5 per share of Class A common shares). The company plans to use the net amount of the investment proceeds for general corporate purposes, including fulfilling operational fund requirements.

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