Chinese electric vehicle manufacturer Xpeng is increasing its spending and workforce in response to intense competition in the EV market. The company plans to hire 4,000 people and invest in AI technology to stay competitive amid what its CEO describes as a 'bloody sea' of rivalry. Xpeng aims to innovate by introducing 30 new models while facing pricing pressures with carmakers offering models below 100,000 yuan. Additionally, Nvidia has hired former Xpeng employees to strengthen its autonomous driving business in China.
China’s EV price war to hot up as carmakers price models below 100,000 yuan https://t.co/82pcKTRQQi via @scmpnews
Nvidia hires ex-Xpeng staffers to boost its autonomous driving business in China https://t.co/2hiDj608kR
New Chinese electric car crowned the cheapest SUV on the British EV market as prices start from £29,995 https://t.co/x95Tq5GbqP
$XPEV | 30 New Models, 4K Hires: Chinese EV Giant Xpeng Gambles On Innovation Amid 'Bloody Sea' Of Competition https://t.co/bBPtUZS9sj
Xpeng plans to hire 4,000 people, invest in AI as CEO warns intense EV rivalry may end in 'bloodbath' https://t.co/OhV99t42d8
China’s Xpeng to boost spending to survive ‘bloody sea’ of EV competition https://t.co/QkKhjSg2gR