Xpeng expects to bring its EVs to dozens of countries next year, CEO says
"I don't want to build a China-only company, I want to build a global company," Xpeng CEO said.
After restarting its international expansion earlier this year, Xpeng (NYSE: XPEV) plans to significantly ramp up the effort next year. "We expect to enter dozens of countries next year, mostly developed countries," Xpeng chairman and CEO He Xiaopeng said in an interview with CGTN, according to a video yesterday.
Xpeng has already launched the P7 and G9 in several European countries and is entering Israel, Mr. He said, adding that the second half of 2023 is version 2.0 of the company's efforts to expand into overseas markets. In 2024, in addition to its flagship sedan, the P7, and flagship SUV, the G9, Xpeng will also bring its new SUV, the G6, to overseas markets, Mr. He said. "I expect to bring the best self-driving experience in China to the global market by 2025, two years from now," Mr. He said, adding, " I don't want to build a China-only company, I want to build a global company." He added that Xpeng does not want to rely on efficiency and cost to win when expanding into overseas markets, but wants to show customers in other countries a different kind of tech product.
"I think China is one of the best countries in the world to combine high-quality hardware with software," Mr. He said.
On July 26, German auto giant Volkswagen announced plans to invest $700 million in Xpeng and co-develop EVs.
Mr. He said in the interview that he expects the partnership with Volkswagen to help Xpeng expand internationally and move faster and better in the process.
Xpeng placed a lot of emphasis on the European market early last year and made a series of moves there, including allowing local consumers to pre-order the P5 sedan on March 10, 2022 in Denmark, the Netherlands, Norway, and Sweden.After that, there was no more news about Xpeng's moves in Europe until earlier this year. On February 3, Xpeng introduced the P7 and G9 to the European market, marking the resumption of its efforts to expand in Europe. On July 10, Xpeng announced that it had entered into a strategic partnership with one of Israel's largest car dealer groups, Freesbe, previously known as Carasso Motors, which will develop Xpeng's sales and service network in the Middle Eastern country.
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