The Xpeng G9 SUV was displayed at the 20th Shanghai International Automobile Industry Exhibition held at the Shanghai National Convention and Exhibition Center on April 18, 2023.
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Xpeng The company plans to hire 4,000 new employees and invest in artificial intelligence technology, its chief executive said, warning that fierce competition in electric vehicles could lead to a “bloodbath.”
Electric car maker Xpeng Motors will invest a total of 3.5 billion yuan ($486.2 million) in research and development of artificial intelligence technology, Chief Executive He Xiaopeng said in a letter to employees on Sunday. Focus on “smart driving”.
Xpeng Motors has a driver assistance system called Xpilot that allows its cars to perform certain functions semi-autonomously.
The CEO also said that Xpeng Motors plans to launch about 30 new or upgraded models in the next three years.
This year, the company will launch its first models in the price ranges of over 300,000 yuan and 150,000 yuan.
After a difficult start last year, Xpeng Motors’ deliveries have picked up. For automakers, deliveries are the closest thing to sales.
Like other electric car makers, Xpeng Motors has been locked in a Tesla-induced price war in China. At the same time, China’s economy remains under pressure and consumers remain cautious.
Xpeng struck an optimistic tone, saying the company had “come out of the trough and charted a path that differentiates it from its industry competitors.”
However, he did acknowledge that competition ahead will be fierce.
Xpeng Motors wrote in an employee memo: “This year also marks the beginning of fierce competition among Chinese automakers, which may end in a ‘bloodbath’ (or as I prefer to call it, a brutal ‘elimination match’). “
“Xpeng Motors has participated in this brutal competition from the beginning and has accumulated rich experience. I firmly believe that our courage, perseverance and perseverance will definitely lead us to victory.”
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