By Jiahui Huang
XPeng plans to hire more than 6,000 employees next year as part of its strategy to launch new models and upgrades "almost every quarter," the Chinese electric vehicle maker's chief executive said.
The company will expand its workforce and introduce multiple new models featuring its advanced artificial intelligence technologies, Chief Executive He Xiaopeng said in an internal letter to employees, seen by Dow Jones Newswires on Tuesday.
"Almost every quarter, we will have blockbuster new models and upgrades," He wrote, adding that the technology in some models "will not have any competitors" in the industry.
XPeng had 13,261 employees at of the end of June, according to data from Wind.
He, who is also the company's founder, predicted a new round of prices wars in the EV industry starting as early as January. He added that XPeng aims to enter more than 60 markets in 2025 as part of its plan to generate half of its sales from overseas markets within the next decade.
XPeng reported robust sales and strong margin growth in the second half of 2024, driven by its advanced autonomous driving technology and successful launches of new models in August and November.
The company's earnings for the first three quarters of this year were also boosted by revenue from its technical collaboration with Volkswagen.
Write to Jiahui Huang at jiahui.huang@wsj.com
(END) Dow Jones Newswires
December 31, 2024 05:12 ET (10:12 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.