history
Guangzhou Xiaopeng Motors Technology Co Ltd, or XPeng for short, was founded in 2014 by former senior executive Xia Heng and He Tao from one of the oldest Chinese automakers, GAC Group. Their connection to the automotive sector and financial companies such as Xiaomi or Alibaba helped the young car manufacturer gather the necessary funds to rocket onto the car market.
The automaker launched its first prototype in 2016, an electric crossover. In the following year, it produced a test batch. After successful results, Xpeng proudly presented the series production for it, the G3. Unlike many other EVs produced that year, this one featured advanced driving assistance features (ADAS) that made customers storm the brand's showrooms in China.
But the company's board wanted to play big, so the Algerian-born designer Rafik Ferrag was hired to lead the styling department. He worked previously for Citroen and Honda, and the first product he signed for the young Chinese brand was the P9 sedan, which was unveiled in 2019 at the Shanghai Auto Show.
But the automaker's beginnings were not without bumps. Tesla and Apple sued Xpeng for IP theft. While in the former case, a jury had decided that it was not the case, the engineer accused of stealing secrets pleaded guilty in the latter case.
Since the U.S. market looked very attractive, Xpeng opened a factory on American soil, and in 2018 it got permission from the California DMV to test autonomous vehicles. The company's rapid development made another Chinese giant Xiaomi invest $400 million in the automaker to help it evolve faster. In the same year, additional funding was gathered from Abu Dhabi's sovereign health fund Mubadala and Qatar's Investment Authority. Thus, in less than a decade since it was founded, Xpeng managed to introduce five models and a facelift for its first product, the G3.
Another appealing market was the European one, where the automaker launched its P7 sedan in 2021. It was a bold move, but customers liked the car. Its safety features, futuristic look, and long range made it attractive. In addition, it was larger and more luxurious than other EVs on the market. Nevertheless, features like automatic parking in valet mode that didn't require a human presence in the vehicle, level 2 autonomous driving systems, and AI assistance were also present on the vehicle. Last but not least, the price was competitive.
But Xpeng didn't limit itself to building cars and has developed an aero subsidiary that works to develop flying vehicles.
expand
