Electric vehicles are becoming increasingly popular, leading to the emergence of new brands alongside established carmakers. XPeng, one of these brands, has been producing next-gen vehicles since 2014 and is particularly popular in China. However, 2022 was a challenging year for the company, and it didn’t meet its desired success. But this is expected to change with a statement from CEO He Xiaopeng. Here are the details..
XPeng Plans to Release Two New EVs and Deliver 200K Units in 2023
XPeng‘s Chairman and CEO, He Xiaopeng, sent an internal letter to the company’s employees acknowledging that 2022 was a challenging year with various difficulties. The company’s sales failed to meet expectations and its share price plummeted by 81.34%. This was particularly devastating for XPeng, especially in its main target market, China, where it only sold 120,800 vehicles compared to its smaller competitors’ higher sales numbers.
In the letter, He Xiaopeng wrote, “The vast majority of current automakers will be eliminated in this knockout. XPeng has no retreat, so we must go forward bravely.” The navigation guided pilot (NGP) of XPeng will be delivered in the third quarter of this year. He Xiaopeng said that autonomous driving should be regarded as the core of XPeng. Moreover, this is not the only goal of the company.
XPeng will unveil five new models in 2023, including two brand-new vehicles and three updated versions of previous models. Both of the new cars are built on an 800V high-voltage platform. The first new model is the XPeng G7, a five-seat SUV that will make its debut at the Shanghai Auto Show this year. The other new car is an MPV with the internal code H93, set to begin mass production in September 2023.
According to the letter, XPeng has sold a total of 258,710 vehicles by the end of 2022. The 2023 targets are much bigger. CEO Xiaopeng wants to sell 200,000 vehicles this year. But time will tell whether this will be true or not.
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