The Xpeng G9 SUV will be exhibited at the 20th Shanghai International Automobile Industry Exhibition to be held at the National Convention and Exhibition Center in Shanghai on April 18, 2023.
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Fierce competition in the electric vehicle sector could end in a “bloodbath” as Xpeng plans to hire 4,000 new people and invest in artificial intelligence technology, according to the company’s CEO he warned.
He Xiaopeng, CEO of EV maker Xpeng, said in a letter to employees on Sunday seen by CNBC that the company has spent a total of 3.5 billion yuan ($486.2 million) on research and development of artificial intelligence technology. He said he would invest. Focus on “intelligent driving.”
Xpeng has a driver assistance system called Xpilot that allows its cars to perform some functions semi-autonomously.
The CEO also said that Xpeng intends to launch about 30 new or upgraded vehicles over the next three years.
The company plans to launch the first models this year in the price range of more than 300,000 yuan and 150,000 yuan.
After a tough start last year, Xpeng’s delivery performance has picked up. For automakers, vehicle deliveries are the closest thing to sales.
Xpeng, like other electric car manufacturers, is fighting a price war in China caused by Tesla. Meanwhile, China’s economy remains under pressure as consumers remain cautious.
Mr. Xiaopeng said in an optimistic tone that the company had “charted a path to bottom out and set itself apart from industry rivals.”
However, he acknowledged the stiff competition ahead.
“This year also marks the beginning of a fierce competition between Chinese automakers that may end in ‘bloodshed’ (or, as I like to call it, a brutal ‘knockout round’),” Xiaopeng told employees. I wrote it in my notes.
“XPeng has been in this fierce competition from the beginning and has gained considerable experience. We strongly believe that our grit, grit and perseverance will lead us to victory.”
