XPENG Motors, a leading Chinese smart electric vehicle (“Smart EV”) company, has announced that it is about to launch a new brand in China, creating a new breed of AI-powered Smart EVs for young customers worldwide that would be priced between USD 15,000 to USD 23,000.
XPENG's new brand is dedicated to providing "the first AI-driven smart car for young people," and in the future, it will continue to introduce multiple models with different levels of intelligent driving capabilities under this brand, providing users with the best intelligent driving experience in its class.
The era of "AI-defined cars" has arrived. Currently, mainstream brands are entering the field of smart driving, with the estimated penetration rate of vehicles equipped with L2-level-and-above ADAS capabilities reaching 49.9% by 2025. In the creation of the new brand and its products, XPENG will leverage its leadership in smart driving technology development and cost control advantages, quickly transferring mainstream intelligent driving functions to lower price points.
As the first Chinese automaker to offer mass-produced ADAS functions for both highway and urban driving scenarios, XPENG enables its users to enjoy industry-leading smart driving functions with exceptional experience. On February 29, XPENG rolled out the unlimited XNGP ADAS function for experienced users, without restrictions on cities or routes. As of February 2024, the penetration rate of XNGP ADAS for urban driving among monthly active users reached 83%, making XPENG the industry leader in terms of active users, user experience, and penetration rate of urban smart driving mileage.
At the China Electric Vehicle 100 Summit, CEO He Xiaopeng also announced that XPENG will upgrade its "AI-enabled smart driving" this year, with plans to invest 3.5 billion yuan in R&D and recruit 4,000 new employees. In addition, in the second quarter of this year, XPENG will also fulfil the commitments made during the 2023 XPENG Tech Day event to deploy AI large models on cars, offering the first mass-produced AI and vehicle cognitive assistant in the automotive industry. Commitment to innovative mobility experiences and continuous investment in AI technology demonstrates XPENG's relentless exploration for smarter and more sustainable mobility solutions.
