(Yicai) Aug. 28 -- Shares of Xpeng Motors soared after the Chinese new energy vehicle company said it will acquire HKD5.8 billion (USD744 million) of assets from ride-hailing platform Didi Global to launch another NEV brand called Mona.

Xpeng [HKG: 9868] jumped by 1.8 percent to HKD72.10 (USD9.20) as of 2.41 p.m.

The car manufacturer will issue common shares to Didi, making up 3.25 percent of its total share capital after the transaction, the Guangzhou-based firm said in a statement today. One of the contract terms is that Mona models will meet twice of the delivery target of up to 180,000 units.

A source familiar with the matter told Yicai that Xpeng will launch two Mona models late next year. The design of the models will follow Didi's plan. The price tag will be about CNY150,000 (USD20,580), whereas Xpeng's self-branded cars cost from CNY150,000 to CNY350,000.

Xpeng will manufacture the new models by itself and install its smart assisted driving system, intelligent cockpit, and software in the products. But Didi will sell some Mona products through its own channels, the above-mentioned source added.

The pair will also explore cooperation at home and abroad regarding platforms, branding, as well as financial and insurance services, charging infrastructure, and robotaxi.

Xpeng widened its net loss slightly in the second quarter, as the number rose to CNY2.8 billion (USD384.2 million) from CNY2.7 billion. Revenue dropped by 32 percent to CNY5.1 billion.

Editor: Emmi Laine