XPeng has just dropped a massive hammer on the Chinese EV market. Despite being a smart electric car, which includes having a great infotainment system and lidar for semi-autonomous driving support, XPeng’s new P5 model has a starting price of just RMB 160,000 to 230,000 (after subsidies), which translates to … [continued]
China’s EV boom is turning into a bust. Sales of “new energy vehicles” have been sliding for the past 10 months. In April, they showed a 43% drop from the same month in 2019.
Xpeng Motors continues its strategic growth this week with the signing of a Series C capital funding round of $400 million from a group of strategic and institutional investors. At the same time, Xpeng announced that Xiaomi Corporation is joining as a strategic investor.
Xpeng invited us to come to the Auto Shanghai show to see how well its electric G3 was doing in China. I previously visited its San Jose USA headquarters, where part of its autonomous driving research department develops the G3 and now P7 experience. That’s where I met Xpeng’s founder and owner, Mr. He Xiapeng. I was surprised to discover the company’s wise strategy and took it as a sign of changing times for mobility startups.
