XPeng partners with Black Horse to provide finance and leasing

XPeng’s UK distributor International Motors Limited has partnered with Black Horse to underpin finance and leasing offers for UK customers.

The deal is another milestone in XPeng’s expansion into the UK market and means Black Horse will help retailers offer hire purchase (HP) and personal contract purchase (PCP) products.

A further partnership with another of Lloyds Banking Group’s subsidiaries, Lex Autolease, will provide personal contract hire (PCH) and business contract hire (BCH) products.

The G6 coupe SUV is the manufacturer’s  mid-size all-electric SUV and the brand's first model launched in the UK.

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William Brown, managing director at International Motors Limited, said: “We are pleased to expand our partnership with Lloyds Banking Group and incorporate the new XPeng brand.

“This support provides our future customers with secure and responsible motoring finance options from established partners, providing additional peace of mind for consumers when considering a new vehicle brand.”

Nick Williams, managing director for transport at Lloyds Banking Group, said: “As one of the largest finance providers for electric vehicles in the UK, our partnership with IML means that we are able to put even more people in the driver’s seat through flexible and affordable finance, supercharging the electric vehicle market with more choice and increased competition.”

Pre-orders for the G6 are now open, with prices starting from £39,990 and deliveries to begin in March 2025.

The new Chinese brand is aiming to have a network of 20 UK dealerships before the end of 2025.

XPeng is planning to expand its range of vehicles that are offered in the UK and showcased a glimpse of other models, including the P7+ saloon, G9 flagship SUV, X9 seven-seater, as well as the rather experimental X2 flying car, from its electric vertical take-off and landing (VTOL) subsidiary.

The company's first model, the XPeng G3 compact SUV, launched in 2018. In 2020, XPeng introduced the P7, a high-performance electric saloon to rival Tesla's Model 3.

The company has expanded rapidly, listing on the New York Stock Exchange in 2020 and the Hong Kong Stock Exchange in 2021, reflecting strong investor confidence. It also continues to innovate, investing heavily in R&D, autonomous driving technology, and fast-charging solutions.