XPeng, like other Chinese brands, wants to expand its international business in order to increase exports from 10% to 11-12% this year, but also to avoid additional tariffs introduced by the EU on EVs produced in China. That is why the company decided to start car production on European soil.

“Selling one million AI-powered cars per year will be a mandatory goal for companies that want to achieve success in the next 10 years. Then drivers could touch the steering wheel less than once a day on their daily commute,” said He Xiaopeng, CEO of Xpeng.

Xpeng is currently looking for a manufacturing site, which has low operational risk, and the company also plans to build a large data center in Europe. This center will help the Chinese company collect software data to improve autonomous driving.

At the beginning of the year, the company’s management pointed out that it plans to hire an additional 4,000 people this year and invest $482 million in the development of artificial intelligence and the next level of autonomous driving. However, after 10 years of development, XPeng also plans to launch a flying car, an eVTOL aircraft for vertical take-off and landing, but which can be a full-fledged road car. The aircraft should reach the market in the last quarter of this year.

Source: XPeng