Xpeng's CEO says the auto industry will enter an 'elimination round' from 2025 to 2027

Industry Competition Outlook - Western automakers are facing an existential battle against Chinese counterparts, with a Darwinistic-like price war and market purification expected to eliminate many players within five years [1] - The auto industry will face an "elimination round" from 2025 to 2027, with competition becoming even more heated and cutthroat [2][3] - Most Chinese carmakers are not expected to survive the next decade, with only seven major car companies predicted to exist in the coming 10 years [4][5] Company Performance and Projections - Xpeng delivered 190,068 vehicles in 2024, a 34% increase from 2023, and is on track to achieve profitability by 2025 [3] - Tesla delivered 1.79 million vehicles in 2024, a 1% decrease from 2023 [3] Market Consolidation Trends - The Chinese EV industry will see a "knockout tournament" in the next three to four years, followed by an "all-star competition" in the next seven to eight years [5] - From 300 start-ups, only 100 survived, with fewer than 50 companies still existing and only 40 selling cars annually [4]