Xpeng expects turnaround in second half, paves way for overseas export drive
Chinese electric vehicle startups are facing a series of challenges at home, including weak consumer spending, rigorous price-cutting campaigns and fierce competition from giants like BYD and Tesla.
After reporting record net losses in the second quarter, Xpeng is hoping for better months ahead. The Guangzhou-based electric vehicle manufacturer suggests a combination of cost cutting measures and ramped up deliveries of its new G6 SUV will help boost margins.
Xpeng is also betting on artificial intelligence, with its most advanced assisted driving software XNGP soon to be deployed in 50 cities across China. Semi-autonomous driving on dense Chinese streets, without relying on high-precision maps, is laying the groundwork for international application.
In a recent interview with CGTN’s reporter Huang Fei, Xpeng's co-founder and CEO He Xiaopeng explains his vision and responds to skepticism about smart cars made in China.