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XPeng’s CEO has publicly declared the company's mission to achieve a 50% sales share from markets outside of China within the next few years. To this end, the company plans to expand sales to 60 countries over the next twelve months. Such ambitious plans put XPeng in direct competition with established automotive giants, including Volkswagen, which has been hinting at the release of its own new electric models in the coming years.
The impending competition poses a challenge, particularly for traditional car manufacturers who are exploring the EV landscape. With XPeng's ability to promptly produce an SUV priced around $19,000, it further solidifies its position in the low to mid-range market segment.