Chinese electric automaker XPeng plans to roll out about 30 new or refreshed electric vehicles through 2027, CnEVPost reports, citing Chairman and CEO He Xiaopeng’s internal letter.
Plan details
As per the internal letter, XPeng aims to launch approximately 30 new and facelifted models within three years.
XPeng announced new platforms will support two inaugural electric vehicles in the price range of RMB 150,000 ($21,000) and RMB 300,000 ($42,150). It will apparently enable the Chinese brand to complete its product lineup from $14,000 (RMB 100,000) to $56,000 (RMB 400,000) price range to stay competitive in its home market.
The first model of the 150,000-level platform will use the “MONA” brand, co-built by XPeng and Didi. Meanwhile, the 300,000-level platform car codenamed “F57” will launch in H2 2024.
The move will mark the largest vehicle launch plan for any automaker, particularly in rapidly developing electric vehicle technology.
Purpose
Chairman and CEO Xiaopeng explained that this strategy will aid XPeng in its efforts to compete in the highly competitive Chinese electric vehicle industry.
He even forecasts that this year will emerge as a “sea of blood” competition” among Chinese EV players, initiating the market’s first “elimination round.”
In that sense, XPeng aims to further intensify its research and development push with a more than 40% increase in budget compared to the prior year.
“We will go forward in 2024 and enter a high-speed positive cycle in the fourth quarter or a little earlier.
Starting this month, we will make the company more successful with a more advanced and efficient full-process system based on the new XPeng Product Development (XPD) system, which is the full lifecycle product development management system V1.0 with XPeng features.”
XPeng Chairman and CEO He Xiaopeng
XPeng reportedly plans to allocate RMB 3.5 billion (~$492 million) this year alone to fund its artificial intelligence (AI) R&D efforts to improve its Advanced Driver Assistance Systems.
XPeng’s progress
XPeng is already celebrating its tenth anniversary in the electric automotive industry in 2024. Despite this somewhat short time, it has successfully made a name for itself in the world’s largest auto market.
“No matter how challenging and how much investment is needed, we have to make Xpeng’s brand and marketing one of the undisputed first-tier players in the industry in as short a period of time as possible.”
XPeng Chairman and CEO He Xiaopeng
Over the past few years, XPeng has penetrated the European market while also boosting its electric vehicle portfolio on its home turf, including the new G9 and X9 multi-purpose models.
Going forward, XPeng announced that 2024 will mark its more intensified global expansion efforts. It aims to launch in several key markets, including new European countries, ASEAN, the Middle East, Latin America, and Oceania. At the same time, it will continuously strive to boost the local adaptation of its electric vehicles, such as left-hand drive and right-hand drive models.
