xpeng – pressnews

[ad_1] Chinese electric vehicle maker Xpeng Inc. hopes that dramatic cuts to manufacturing costs will propel the eight-year-old company to profitability, co-president Brian Gu told reporters at the Shanghai International Auto Show, which opens to the general public on April 20.The Guangzhou-based company plans to shave 25% off the costs of its power train, battery cells included, and save 50% on intelligent driving features by the end of 2024, Gu said. As of now, the two account for more than half of the cost building Xpeng EVs, he added. Last year, disappointing sales forced Xpeng to push back its timeline for profitability to 2025. But battery materials are getting cheaper, Gu said, generating savings this year and into next. The company is also trying to reduce its use of laser-based...

[ad_1] Sales of the compact four-seater Electric Vehicle are central to Leapmotor’s success. Zhejiang Leapmotor Technologies Ltd. has more than last week's disastrous trading debut in Hong Kong to worry about. While the electric-vehicle maker's T03 mini car is outselling the likes of Nio Inc. and Xpeng Inc. in China, it isn't making a profit. Sales of the compact four-seater EV are central to Leapmotor's success, accounting for almost three-quarters of the startup's total deliveries since inception. In September, Hangzhou-based Leapmotor delivered 11,039 vehicles, a 200% jump from a year earlier, to rank third among China's homegrown EV startups, behind Hozon New Energy Automobile Co. and Li Auto Inc. But despite its popularity, the affordable T03, which starts from 79,500 yuan...

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