On March 19, He Xiaopeng announced during Xpeng‘ earnings call that the company will significantly accelerate the expansion of its overseas business in 2024. The plan is to launch the international left-hand drive version of the G6 to the global market in the second quarter of this year, followed by the right-hand drive version in the second half of the year. In terms of sales channels, Xpeng will accelerate entry into countries including Western Europe, the Middle East, Southeast Asia, and the Commonwealth through cooperation with dealers.
He Xiaopeng also mentioned that this year marks the tenth anniversary of Xpeng Motors’ founding and what he believes to be the first year of intense competition in the Chinese auto industry. He pointed out that since the first quarter, the industry’s price war has intensified, with some companies exiting and well-known tech companies halting car manufacturing investments. He predicts that the “survival of the fittest” competition among smart electric cars in China will officially begin from 2024 to 2027.
To face this competition, Xpeng Motors reduced the prices of its three main models earlier this month. At the same time, the company is continuously adjusting its sales channels. In addition to replacing a batch of dealers last year, it plans to close low-performing stores and introduce excellent dealers this year to improve channel capacity and accelerate penetration into third and fourth-tier cities.
Starting from 2023, Xpeng Motors’ strategy has shifted to embrace a larger scale of growth and more intense price competition. The company will invest in the following areas:
Strengthening the organization and efficiency to enhance the company’s operational capabilities.
Significantly improving the quality of operations and the full-cycle customer experience to meet consumer needs.
Preparing for competition with more comprehensive product, technology, and supply chain scaling to cope with market changes.
Reshaping domestic and global brand, sales, and service capabilities to enhance the company’s market position.
Promoting equality in autonomous driving and driverless technology to lead industry development trends.
Accelerating global deployment to expand the company’s market share.
He Xiaopeng emphasized that Xpeng Motors does not plan its future based on short-term and small-scale growth. Facing the strategic layout and tactical decoding of the survival competition, he also sees exciting strategic opportunities.
SEE ALSO: Tesla Model Y Set for 5,000 Yuan Price Increase in China
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