Xpeng Motors, a Chinese electric vehicle (EV) maker, is introducing a hybrid system to compete with rivals like Li Auto and Zeekr. The company’s new system, called Kunpeng, offers a range of over 1,400km and a pure-electric range of 430km. This move is a response to the growing demand for cheaper cars with extended driving range. Xpeng’s CEO, He Xiaopeng, aims to accelerate the company’s globalization process by addressing the limitations of charging infrastructure overseas. The company plans to expand to 60 countries by the end of 2025 and set up over 300 sales and services centers.
The introduction of extended-range electric vehicles (EREVs) is a trend in China, with sales of plug-in hybrids almost doubling in September. EREVs can travel up to 1,000km on a single charge and are about 10% cheaper than all-electric alternatives. Xpeng will go up against all Chinese EV makers, except Nio, in the hybrid market. The company’s move is seen as a wise strategy to drive sales, given its rapid global expansion plans. Experts believe that the uneven infrastructure in overseas markets and policy challenges pose more challenges for pure EV models from China.
Source: https://finance.yahoo.com/news/xpeng-stirs-rivalry-byd-li-093000349.html