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
12-31-24 0527ET
