XPeng Launches New EV Brand Targeting Affordable Segment in China
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XPeng Motors announces new EV brand targeting affordable segment in China priced between 100,000-150,000 RMB ($14,000-$21,000)
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New brand will focus on providing AI-driven smart vehicles and advanced driver assistance tech to young consumers
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XPeng aims to tap into popular EV price segment in China with 34% market share in 2023
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First model teased, brand intends to later expand with multiple intelligent EV models
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Part of XPeng's multi-brand global expansion strategy beyond flagship XPeng vehicles