XPENG Appoints Korea Managing Director, Confirms Plans to Enter South Korean Market

• XPENG today announced the appointment of Lee Man-sik, a 30-year automotive industry veteran with a proven track record in sales and commercial operations, as Managing Director of XPENG Motors Korea, effective December 1, 2026.
• The appointment marks XPENG's planned entry into the South Korean market. Details on launch timing and local business operations will be announced at a later date.

SEOUL, South Korea, Nov. 2, 2026 /PRNewswire/ -- XPeng Inc. ("XPENG" or "the Company,"NYSE: XPEV; HKEX: 9868), a leading global Physical AI company, today announced the appointment of Lee Man-sik as Managing Director of XPENG Motors Korea, as the company prepares to bring its smart vehicles to one of Asia's most sophisticated automotive markets.

Mr. Lee brings more than three decades of automotive industry experience. Having begun his career in engineering, he has built expertise across sales, marketing, product strategy, brand communications, dealer network development and customer service. He joined Volvo Cars Korea in 2003 and played a pivotal role in establishing Volvo as a leading premium import brand in South Korea.

At Volvo Cars Korea, he led the development and execution of the brand's mid- to long-term growth strategy, with responsibilities spanning brand positioning, product planning, sales and marketing, nationwide dealer expansion and customer experience.

"Over the past thirty years, I have learned that sustainable growth for a premium brand rests not only on outstanding products but on trust built with customers," said Mr. Lee. "XPENG is a brand presenting new possibilities for the industry through innovative AI technology and a vision for future mobility. I am delighted to join this journey of change."

On the Korean market, he added: "Korean customers hold exceptionally high expectations for automobiles and are remarkably open to new technology and innovation. We believe XPENG's advanced technology and product competitiveness can offer them new choices and differentiated value. Above all, our goal is to build a brand customers can choose with confidence — one that delivers a trustworthy experience at every step of ownership."

In his new role, Mr. Lee will lead XPENG's efforts to establish its business foundation in South Korea, drawing on his deep understanding of the local automotive market and extensive experience in premium brand operations. His remit will include developing sales and service networks, building strategic partnerships and strengthening XPENG's brand presence in the market.

XPENG's planned entry into South Korea comes as the company continues to deepen its international footprint this year. In October 2026, the company delivered 50,237 vehicles worldwide — up 22% from September and 20% from a year earlier, a new monthly record. Overseas deliveries climbed to 13,326 units, surging 166% year on year to set a record of their own. The company now operates across 83 countries and regions, supported by eight R&D centers, six manufacturing bases and more than 1,200 stores worldwide. At the 2026 Paris Motor Show in October, XPENG launched its next-gen AI flagship SUV, the G9L, for the European market and showcased its latest intelligent driving technologies, while expanding opportunities for global technology partnerships. XPENG aims to bring that same differentiated technology and customer experience to South Korea, and details on launch timing and local operations will be shared in due course.

About XPENG

XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.

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