Xpeng to Launch Mass Market Brand to Compete with BYD

Business Nouvelles

Chinese premium electric-vehicle (EV) maker Xpeng is planning to launch a mass market brand very soon, with the new entity aimed at taking the fight to market leader BYD. The models under the new brand will be priced between 100,000 yuan (RM65,550) and 150,000 yuan (RM98,320) and cater to more budget-conscious consumers. Xpeng co-founder and CEO He Xiaopeng revealed the plan during the China EV 100 Forum in Beijing, stating that the brand will first introduce a compact EV at a price range of between 100,000 and 150,000 yuan. The model will come equipped with advanced driver assistance systems and will be aimed at global markets.