XPeng acquires 90.1% stake in Indonesian electric vehicle factory, accelerating localization strategy in Southeast Asia

On May 22, according to documents disclosed by the Indonesia Stock Exchange, Chinese new energy vehicle company XPeng has officially completed the acquisition of 90.1% of the shares in the electric vehicle manufacturing entity EIDO, which is under the Indonesian listed company PT Sinar Eka Selaras Tbk. The transaction took effect on May 13, totaling 154,072 shares, with XPeng International Holdings Limited as the acquirer. This acquisition marks XPeng's transition in the Southeast Asian market from an "outsourcing" model to a localized heavy asset operation phase of "building ships to go to sea." According to the transaction announcement, the core asset of this acquisition is EIDO's electric vehicle production and assembly plant located in Prakarta, West Java, Indonesia. This plant is XPeng's first overseas production base and adopts a completely knocked-down assembly model