XPENG plans to launch all-new brand targeting global auto market in 100,000- to 150,000-yuan price range

Shanghai (Gasgoo)- During the China EV100 Forum 2024 held on March 16, He Xiaopeng, Chairman and CEO of Chinese smart electric vehicle maker XPENG, unveiled plans to launch a new fire brand that will enter the global auto market in the 100,000- to 150,000-yuan segment.

Furthermore, in the second quarter of this year, XPENG's advanced AI driving large model will officially be integrated into its vehicles, marking the automotive industry's first mass-produced deployment of an in-vehicle artificial intelligence and cognitive engine.

The era of "AI defined vehicles" has arrived, with AI technologies at the core for reshaping the technical architecture and business models of smart electric vehicles. Currently, as mainstream brands actively engage in smart driving technologies and vehicles with Level 2 and above intelligent driving assistance capabilities see rapid sales growth, the penetration rate is expected to reach 49.9% by 2025, according to Mr. He's speech.

Photo credit: XPENG

He Xiaopeng said that "the next decade for new energy vehicles will be a decade of intelligence," emphasizing the role of new productive forces in driving the rapid development of the automotive industry. As this "new decade" begins, XPENG has announced its entry into the global A-segment market priced between 100,000 yuan to 150,000 yuan and will soon launch its new brand. Dedicated to creating the "first AI smart driving car for young people," the new brand will continuously explore the demands of younger customers, introducing a range of new models with varying levels of smart driving capabilities to provide the best smart driving experience in its class. He added XPENG will also become the first Chinese automaker to bring advanced smart driving capabilities to the A-segment market in the 100,000- to 150,000-yuan price range, opening a new chapter in the era of global AI smart driving for Chinese automakers.

At the China EV100 Forum 2024, He Xiaopeng shared that XPENG will focus on upgrading "AI technology with smart driving at its core" this year, planning to invest 3.5 billion yuan in intelligent R&D and recruit an additional 4,000 staff. Additionally, in the second quarter, XPENG will fulfill its promise made during the "1024 Tech Day" in 2023 to implement the "AI big model in vehicles," becoming the first in the industry to mass-deploy an in-vehicle artificial intelligence and cognitive engine.