$XPEV A summary on the news today - $XPEV received a line of credit (LOC) from 3 of the “big 5” state-owned banks: Bank of China, China Construction Bank and Agricultural Bank of China. A LOC is a preset amount of money that a financial institution like a bank or credit union has agreed to lend you. You can draw from the LOC when you need it, up to the maximum amount. You'll pay interest on the amount you borrow. So What? 1. To get LOCs, in the $2billion amount, you must provide impeccable financial reports & cash flow statements. This means all 3 banks feel very confident in lending money to $XPEV. 2. LOCs are for short term commitments such as payroll, new products, increase manufacturing and to increase inventory quickly. This means there is a big demand that $XPEV wants to meet and wants to make sure it can quickly pull the funds to meet that demand. 3. The demand is certainly from Norway and European markets based on the recent partnership with Telenav. In Short - BUY
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