Smart and Sustainable Electric Mobility
XPeng aims to see sales of 1.2 million by 2027 and reach about 30 percent share of the fully autonomous vehicle market.
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The move is a normal price adjustment for XPeng as its vehicle production costs have fallen, a spokesperson told CnEVPost.
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The delivery centers set to be opened in H1 2023 will aid swift delivery of Xpeng's latest models in Europe.
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Ms. Wang Fengying, who is rumored to be the new CEO of XPeng, had worked at Great Wall Motor for more than 30 years and has seen the rise of the auto giant.
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XPeng has signed strategic partnership agreements with two mobility services companies and completed the first deliveries of XPeng P7 vehicles under the cooperation.
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By the close of trading, XPeng was down 6.82 percent in Hong Kong, Li Auto was down 6.55 percent and NIO was down 4.03 percent.
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Tesla remains the world's largest manufacturer in the BEV segment, though BYD is rapidly closing the gap with it.
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Consumers who previously bought XPeng models were eligible for purchase subsidies ranging from RMB 10,080 ($1,460) to RMB 13,860.
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XPeng G9 delivered 4,020 units in December, up 160 percent from November, the first time it exceeded 4,000 units.
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The company, which has a registered capital of 5 billion yuan ($718 million), has a range of operations including battery manufacturing, battery sales, battery parts production, motor manufacturing and R&D.
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