DOMESTIC electric vehicle (EV) maker Xpeng Inc.’s shares ended flat in its US$1.8 billion Hong Kong dual primary listing yesterday as the company said it would develop future models based on product platforms designed for international markets. Guangzhou-based Xpeng’s shares opened 1.8 percent higher from the HK$165 (US$21.25) per share issue price but the positive tone was short-lived. The stock then dropped 3.5 percent to HK$159.30 in early morning trade and closed the day flat at HK$165. Led by former Alibaba executive He Xiaopeng, the seven-year-old automaker is developing smart-car technologies including a smart cabin and autonomous driving. It is selling P7 and P5 sedans and G3 sport-utility vehicles (SUVs). Xpeng will roll out a new product platform with which it can develop several models of different segmentations and sizes, in two years, He said. “The platform will be targeting the global market, meaning we will consider global auto regulations when we develop it,” He said. Like rivals Nio Inc. and BYD Co., Xpeng is expanding global sales by shipping cars to Norway, where policies are supportive of EVs. Xpeng is making its cars in two Chinese factories and is building two new plants. Its prospectus shows Xpeng is planning an SUV model next year. “Between 2025 and 2030, China’s auto industry might look like the current smartphone industry, which a few players dominate,” said He, who previously founded a smartphone software firm. (SD-Agencies) | 