Recently, Xpeng’s CEO said that the battle between electric cars could “lead to a bloodbath.” To stay ahead, they will be hiring 4,000 more people and putting more money into AI.
In a letter sent to workers on Sunday, He Xioapeng, CEO of the electric vehicle company Xpeng, said that the company would be putting 3.5 billion Chinese yuan ($486.2 million) into research and development of artificial intelligence.
Over the next three years, Xpeng wants to make a lot of technological progress. One of their goals is to release 30 new or improved cars. It will release its first models this year. They will cost more than 300,000 yuan and 150,000 yuan, respectively.
The company that makes electric cars has had problems with price and technology, especially since it has to compete with Tesla and other Chinese EV companies. Xioapeng, the CEO, is optimistic about the future of his company because he believes they have “bottomed out and charted a path that distinguishes” their goods from those of their competitors. The Xpeng company in Singapore has been competing with Tesla since the beginning, and they’ve quickly become a well-known EV name.
This year also starts a fierce competition between Chinese automakers that could end in a “bloodbath” (or as I like to call it, the brutal “knockout round”). This is what the CEO of Xpeng wrote in an email to his workers.
He went on to say, “XPeng has been in this fierce competition from the start, so they have a lot of experience.” I’m sure that our guts, grit, and determination will help us win.
