China is returning to work following a break to celebrate the 2024 Lunar New Year, and XPeng Motors looks to hit the ground running with massive expansion plans. According to an internal letter, XPeng Chairman CEO He Xiaopeng detailed plans to deliver about 30 new and updated EV models over the next three years, bridging the price gap between $14,000 and $56,000 vehicles in China.
XPeng Motors ($XPEV) is a Chinese EV brand celebrating ten years in this business in 2024. In that relatively short time, the automaker has climbed the ranks as one of the top EV developers in China, competing against NIO and current market leader, BYD.
Like its competitors, XPeng has expanded to new markets in Europe over the past few years while simultaneously bolstering its EV lineup in China with new models like the G9 and, most recently, the X9 multi-purpose vehicle.
While…