"The market will definitely see fiercer competition in 2025," said the CEO in a letter to XPeng staff obtained by . "And I can even make a bold prediction that price war will ignite from January."
China's EV industry has more than 100 EV manufacturers competing against one another, which will undoubtedly lead to some oversaturation that smaller automakers may not be able to sustain.
XPeng believes the next two years will be crucial for its success. Currently, the brand has entered 30 different countries and regions. The brand expects to expand its presence to 60 by the end of 2026.
Cheaper EVs could spill out of China and result in lower prices across the globe. This could be pivotal to EV adoption worldwide when consumers are thirsting for affordable electric cars.
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