XPEV publishes inaugural ESG report

XPeng Inc. (NYSE: XPEV and HKEX: 9868), a Chinese smart electric vehicle (“Smart EV”) company, 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.

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.

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 a 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 workplace 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.

To view the 2020 ESG Report, please visit the ESG section of XPeng’s Investor Relations website. Click here for the English version.

Author: KS

Source: XPeng Inc.

Topic: ESG | Future Mobility

Market: Future Mobility Stocks