Tag Archives: Xpeng

News

XPeng is considering production in Europe

The European Union’s war with Chinese car manufacturers, which, with the help of state subsidies, are trying to dominate European soil, has been going on for a long time. New regulations on tariffs on cars imported from China have made it even more difficult for Chinese cars to dominate Europe. Therefore, some have already started production of their cars in Europe (BYD, Chery and Dongfeng), and XPeng may soon do the same.

XPeng, like other Chinese brands, wants to expand its international business in order to increase exports from 10% to 11-12% this year. XPeng already sells in the Netherlands, Norway, Sweden, Denmark and Germany, and plans to enter other European markets, including France, Italy and the UK. The company intends to increase its investment in technological innovation, as customers demand more high-tech features when choosing their cars.

Two months ago, 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.

In 2023, VW invested 700 million dollars in the Chinese car manufacturer XPENG, becoming the owner of nearly 5% of the company, with which it agreed a partnership on the production of two models of this German brand. Both models will hit the market in 2026.

Source: XPeng

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XPeng is considering production in Europe
News

Stellantis invests €1.5 billion in a Chinese company

Following Volkswagen’s $700 million deal with Chinese company Xpeng, Stellantis formed a joint venture with Leapmotor. The world’s largest conglomerate will have a 51 percent stake and will have the rights to export, sell and manufacture Leapmotor electric vehicles outside of China.

At a press conference in the Chinese city of Hangzhou, Stellantis CEO Carlos Tavares said: “We have not been so successful in China, so we prefer to rely on a Chinese partner. To win in China, it is better to win with a Chinese company.” This is a good strategic move by Stellantis, with which the group resets its strategy focused on electric vehicles after years of bad sales in China.

Stellantis intends to invest €1.5 billion to acquire approximately 20% of Leapmotor. This will be a good financial injection for the Chinese company to improve its sales results in the domestic market but also to expand its business outside of China. Shares of Leapmotor have risen about 22 percent in Hong Kong this year, and the company now has a market value of $5.4 billion. “Today it is a great milestone in Leapmotor’s history, and I am thrilled to witness this moment together with Mr. Tavares and his team. We believe in win-win partnerships formed by strong players in the fast-evolving environment. Working with Stellantis, we will continue to be innovative and creative in technology and business synergies and will bring Leapmotor EV cars to the global market,” said Leapmotor Founder Zhu Jiangming.

China is definitely the biggest electric car market in the world. However, large companies that have a well-developed global network, such as Tesla, raise the prices of electric cars, which threatens the business of smaller manufacturers. Leapmotor is one of them, and this cooperation will enable not only the survival of the company but also growth on a global level.

Source: Stellantis

EV, News

Xpeng flying car

South Korean company Hyundai estimates that flying cars will become a reality by 2030. The Chinese brand Xpeng is trying to do that even earlier, in 2024.

Xpeng has introduced a flying car that will be delivered to the market through HT Aero. The company, which focuses exclusively on Urban Air Mobility (UAM), has so far performed more than 15,000 test flights with various prototypes of flying drones and cars. The electric vehicle is similar in dimensions to a standard car, but with propellers that can be folded into the body when the car is moving on the ground.

“Our exploration of more efficient, safer, carbon-neutral mobility solutions goes far beyond just smart EVs, and is the cornerstone of our long-term competitive advantages,” said Mr. He Xiaopeng, Chairman & CEO of XPeng.

Tesla also plans to have a flying car. Back in 2019, CEO Elon Musk announced that Roadset would be able to fly. Since then, there has been no evidence to substantiate his claims, but one thing is for sure, whichever company comes first will definitely attract a lot of attention.

Like it or not, China can really produce different types of vehicles. Also, it could place a flying car on the market before everyone else.

Source: Xpeng