The Xpeng G9 SUV is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center in Shanghai on April 18, 2023.
VCG | Visual China Group | Getty Images
Xpeng plans to hire 4,000 new employees and invest in artificial intelligence technology, according to the company's CEO, who warned of intense competition in the electric vehicle space that could end in a “bloodbath.”
He Xiaopeng, CEO of the electric vehicle manufacturer The focus is 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 aims to launch around 30 new or improved cars in the next three years.
This year, the company will launch its first models in the price segment above 300,000 yuan and 150,000 yuan.
After a difficult start to last year, Xpeng shipments have increased. The deliveries come closest to the sales of the automobile manufacturers.
Xpeng, like other electric car makers, is struggling in a price war in China sparked by Tesla. Meanwhile, China's economy remains under pressure as consumers remain cautious.
Xiaopeng struck an optimistic tone, saying the company had “bottomed out and embarked on a path that differentiates it from its competitors in the industry.”
However, he acknowledged the intense competition ahead.
“This year also marks the beginning of fierce competition that could end in a 'bloodbath' (or as I prefer to call it, the brutal 'knockout round') among Chinese automakers,” Xiaopeng wrote in the staff memo.
“XPeng has been involved in this grueling competition from the start and has gained considerable experience along the way. I firmly believe that our courage, courage and perseverance will lead us to victory.”