Posted 3/17/2024, 5:00:09 AM
Xpeng to Launch Budget EV Brand to Challenge BYD's Dominance
- Xpeng launching new mass-market EV brand with models priced from 100,000-150,000 yuan to compete with BYD
- New models will have advanced driver assistance systems and autonomous driving capabilities
- Move comes as premium EV makers look to grab share from BYD's dominance in budget EV segment
- Follows Nio's announcement to launch new mass-market brand Onvo in May
- Part of Xpeng's 3.5B yuan investment this year in intelligent and autonomous driving technologies