Xpeng, the esteemed Chinese electric vehicle (EV) manufacturer, announced a strategic move to democratize intelligent driving capabilities globally, targeting a price segment ranging from (RMB 100,000) ($13,900) to RMB 150,000. This revelation came from He Xiaopeng, Chairman and CEO, during his presentation at the China EV100 Forum in Beijing.
This impending brand aims to make a significant impact on the international stage, promising to deliver Xpeng’s celebrated advanced driving technologies at reduced costs. This initiative positions Xpeng as the pioneering Chinese automaker to introduce such innovations to the A-class car market within this economical price bracket, potentially reshaping the automotive industry worldwide.
He Xiaopeng disclosed that the inaugural model of this new brand would be a sedan, indicating Xpeng’s commitment to blending sophistication with affordability. While specifics remain sparse, an image shared by He suggested a design poised to captivate a diverse audience.
Xpeng’s current portfolio, featuring models like the P5, P7, P7i, G6, G9, and X9, targets the RMB 200,000 to 300,000 price range. The introduction of this new brand, speculated to be codenamed Mona, signifies a strategic shift towards capturing a broader market by venturing into more accessible segments.
Enhancing this initiative, Xpeng’s recent partnership with Didi Global, the ride-hailing giant, involves acquiring its smart car development business assets. This collaboration enriches the Mona project, enabling Xpeng to penetrate the mass market with Didi’s support in the mobility ecosystem. This alliance aims to stimulate innovation while setting performance-based equity incentives, aligning both corporations’ interests toward the project’s triumph.
Complementing the Mona project’s launch of two new models by end of 2024, Xpeng commits RMB 3.5 billion to smart driving research and development within this year. The firm also plans an expansion of its talent pool by recruiting 4,000 new employees, underscoring its dedication to pioneering in-vehicle AI technologies.
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