EU tariffs not a deterrent, says Chinese EV maker XPeng

Core Viewpoint - XPeng, a Chinese electric vehicle maker, acknowledges the significant economic impact of EU tariffs on Chinese EVs but remains committed to expanding in European markets [2][3]. Group 1: EU Tariffs and Market Strategy - The European Union has imposed tariffs of up to 35.3% on imports of Chinese electric cars, citing unfair subsidies as the reason [2]. - Despite the tariffs, XPeng's vice chairman Brian Gu stated that the company will continue to pursue opportunities in Europe, emphasizing the importance of the market [3]. - Gu mentioned that establishing a local presence is a strategy to mitigate the effects of tariffs and protectionism [3]. Group 2: Global Expansion Plans - XPeng aims to double its presence to 60 countries and regions in 2025, reflecting a broader trend of globalization among Chinese EV manufacturers [3]. - The company recently opened its second flagship store in Hong Kong, indicating its commitment to expanding its footprint in international markets [1][5]. Group 3: Technological Advancements - The competition among Chinese EV manufacturers is intensifying, particularly in self-driving technology, with advancements in AI and chip technology driving rapid progress [5]. - Gu indicated that Level 4 (L4) autonomous vehicles could enter mass production as early as next year, showcasing the company's focus on innovation [5]. Group 4: Competitive Landscape - XPeng faces stiff competition in Hong Kong from both local Chinese brands and established players like Tesla, with nearly 500 XPeng vehicles registered in the region last year [6]. - The company plans to introduce its luxury seven-seater X9 model to the Hong Kong market, aiming to enhance its competitive position [7].