By Jiahui Huang


Chinese electric-vehicle maker XPeng is gearing up to sell its cars in Hong Kong and Macau, part of efforts to expand beyond the overcrowded market in mainland China.

The Guangzhou-based company, which competes with the likes of heavyweights like BYD and Tesla, said in a statement Wednesday that it is entering the Hong Kong market via a dealer partnership with Malaysia's Sime Darby Motors.

XPeng's shares closed 7.7% higher at 32.15 Hong Kong dollars (US$4.11).

"Entry into Hong Kong is a strategic next step for XPeng's business expansion," the company said.

XPeng will make its Hong Kong debut in mid-May with its latest electric sport utility vehicle, the G6, and its flagship seven-seater MPV X9. Deliveries of both are due to start from the third quarter.

The company is also partnering with motor group Xin Kang Heng Holding to enter Macau, preparing to offer four of its models there. Deliveries of left-hand drive models will start in May, XPeng said.

Xin Kang Heng distributes Honda, Nissan, Infiniti and other brands in Macau, with a 22% shares of the city's auto, according to the release. Sime Darby Motors is the automotive arm of conglomerate Sime Darby Bhd.


Write to Jiahui Huang at jiahui.huang@wsj.com


(END) Dow Jones Newswires

04-10-24 0441ET