XPeng CEO plans to launch 30-ish new, refreshed EVs by 2027

China is returning to work following a break to have fun the 2024 Lunar New Yr, and XPeng Motors seems to be to hit the bottom working with huge growth plans. In response to an inner letter, XPeng Chairman CEO He Xiaopeng detailed plans to ship about 30 new and up to date EV fashions over the subsequent three years, bridging the worth hole between $14,000 and $56,000 automobiles in China.

XPeng Motors ($XPEV) is a Chinese language EV model celebrating ten years on this enterprise in 2024. In that comparatively brief time, the automaker has climbed the ranks as one of many prime EV builders in China, competing in opposition to NIO and present market chief, BYD.

Like its opponents, XPeng has expanded to new markets in Europe over the previous few years whereas concurrently bolstering its EV lineup in China with new fashions like the G9 and, most lately, the X9 multi-purpose vehicle.

Whereas XPeng’s superior air mobility (AAM) AeroHT works to deliver genuine flying cars to the plenty, its dad or mum firm stays centered on delivering increasingly more new EVs in China and beyond… simply not the US anytime quickly.

Nonetheless, XPeng Motors continues to realize momentum as an EV contender and seems to be planning an onslaught of latest fashions in its three-year pipeline.

XPeng is planning a slew of latest and up to date EVs

In response to an internal letter from XPeng Chairman and CEO He Xiaopeng, obtained by CnEVPost, 2024 would be the yr the Chinese language automaker breaks out on the wings of a bolstered product and expertise platform.

The letter states that XPeng is planning roughly 30 new or refreshed EV fashions over the subsequent three years – a massively formidable rollout for any OEM, not to mention one centered explicitly on nascent EV expertise – a section that has not come wherever close to approaching its great potential but.

XPeng’s beforehand talked about platforms will energy two preliminary EVs focusing on costs within the RMB 150,000 ($21,000) value vary, in addition to RMB 300,000 ($42,150), thus bridging a beforehand vacant value hole for XPeng in China, providing shoppers new EVs in each class, from RMB 100,000 ($14,0000), all the way in which as much as RMB 400,000. ($56,200).

In response to Xiaopeng, the reasoning behind the formidable growth is to compete in a Chinese language EV trade that’s turning into increasingly more intense, stating that 2024 will go down as a “sea of blood” competitors amongst native automakers, kicking off the section’s first “elimination spherical.”

To help its improvement targets for the subsequent three years, XPeng says it’s going to conduct about 4,000 new hires and enrich its analysis and improvement funds by over 40% YOY to “combat for tomorrow.” Whereas many OEMs in China and past (US included) are backtracking on EV improvement targets, XPeng’s CEO sees a window of alternative to capitalize and can push forward more durable and quicker than earlier than:

We are going to go ahead in 2024 and enter a high-speed optimistic cycle within the fourth quarter or a bit earlier.

Beginning this month, we’ll make the corporate extra profitable with a extra superior and environment friendly full-process system based mostly on the brand new XPeng Product Improvement (XPD) system, which is the total lifecycle product improvement administration system V1.0 with XPeng options

Trying forward, good driving expertise will stay a key focus for XPeng all through its new EVs, and the automaker plans to speculate RMB 3.5 billion (~$492M) in 2024 alone towards the R&D of synthetic intelligence to help these ADAS features. This yr additionally marks XPeng’s new technique of merging advertising and marketing of its vehicles, web, and telephones into one holistic system to make sure the corporate is acknowledged as “one of many undisputed first-tier gamers within the trade.”