"Our plan for Europe is a very long-term one," Xpeng's Vice Chairman and Co-President Brian Gu stated matter-of-factly, reassuring stakeholders of the company's commitment. Despite the EU's newly approved tariffs on electric vehicle imports from China adding pressure, Gu emphasized Xpeng's determination to adapt and compete in the European market. He expressed confidence in finding ways to remain competitive, underscoring a commitment to the long-term vision for the company in Europe.
Gu mentioned, "Having local manufacturing capabilities is something a company with a long-term plan and a long-term vision has to do. It's not because of tariffs, it's not because of short-term policy changes." This statement highlights Xpeng's strategic approach to overcoming challenges posed by the EU tariffs and reflects a broader trend among Chinese EV manufacturers considering localized operations.
The EU's majority support for tariffs on Chinese-made EV imports could reach up to 45%. Brian Gu noted that Xpeng is exploring solutions to adapt to this regulatory landscape to ensure competitiveness. While he did not confirm if Xpeng would pass these costs onto customers, the focus remains on developing strategic advantages amid evolving market conditions.
Brian Gu recognized the pressure the tariffs have imposed on Xpeng, stating, "We're looking into several areas for the best possible solution." His comments reflect the ongoing challenges faced by Chinese automakers in Europe, as well as a proactive approach to navigate these changes.
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