In an announcement Monday, Xpeng’s CEO He Xiaopeng has made public plans to expand the company’s workforce by 4,000 and invest $486.2 million in artificial intelligence (AI) for intelligent driving development.
With a focus on enhancing its Xpilot driver assistance system, Xpeng aims to introduce around 30 new or upgraded models within three years, targeting both high and mid-price segments.
Despite facing challenges, including a competitive price war initiated by Tesla and cautious consumer spending in China, Xpeng’s deliveries have shown improvement. Xiaopeng expressed confidence in the company’s recovery and strategic direction, while also acknowledging the fierce competition in the EV market.
“This year also marks the beginning of a fierce competition that may end in a ‘bloodbath’ (or as I prefer to call it, the brutal ‘knockout round’) among Chinese auto makers,” Xiaopeng wrote in the employee memo. “XPeng has engaged in this cutthroat competition right from the outset, thus accumulating considerable experience. Our guts, grit and perseverance, I firmly believe, will lead us to victory.”
