Chinese electric car maker Xpeng Eyes doubles global reach by the end of the year
The company's chief executive said on Saturday that China's leading electric car maker Xpeng plans to double the number of countries the company operates by the end of the year.
Founded in 2014, Xpeng is one of the most powerful Chinese companies in the industry with strong international ambitions, especially cutting-edge technology and design.
“We will accelerate from 30 countries and regions to attend in 2024,” Xpeng founder and CEO Xiaoopeng said at a press conference in southern Guangzhou.
“This year, we will increase to 60 and we will establish more than 300 after-sales services worldwide,” he said.
Xpeng, which designs high-end cars, already owns stores in several European countries including France, Germany, Sweden and Norway.
“In the 10 years from 2024 to 2033, we expect half of Xpeng's sales to come from outside China,” he said.
Although the EU has faced an ambitious plan that has imposed additional import tariffs on electric vehicles made in China after summarizing Beijing's national support, unfairly weakening European automakers.
Xpeng's custom features such as driving assistance, fast charging and modular interiors will help it stand out in the competitive Chinese market.
On Saturday, he predicted that some Chinese electric car manufacturers could perish, a fierce competition in price, services and technological advancements.
“This year is the beginning of China's phase-out phase. I think it will be very intense in 2025, 2026 and 2027,” he said.
According to the China Passenger Car Association (CPCA), the record 10.9 million hybrid and electric vehicles sold in the country last year were up more than 40% from 2023.
China's electric vehicle market has witnessed explosive growth in recent years, partly due to generous subsidies from Beijing.
The Chinese government supports the development and production of underpolluted battery-powered vehicles, a field that Chinese manufacturers such as Byd and Xpeng are leading.
EHL/SN/DHC
