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Chinese EV maker Xpeng to hire 4,000, invest $486.2 million in AI

* Xpeng’s CEO said the company plans to hire 4,000 new employees and invest 3.5 billion yuan ($486.2 million) in artificial intelligence technology. * The Chinese electric car maker also plans to launch about 30 new or upgraded models over the next three years. * CEO He Xiaopeng also warned that fie…

AuthorBTW Editorial

Reading Time2 min

PublishedFebruary 20, 2024

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* CEO He Xiaopeng also warned that fierce competition in China’s electric vehicle market could end in a “bloody battle.” The company plans to hire 4,000 new employees and invest in artificial intelligence technology, according to its chief executive, who warned that the fierce competition in electric vehicles could end in a “bloodbath.” He Xiaopeng, CEO of electric car maker Xpeng, said in a letter to employees on Sunday that the company will invest a total of 3.5 billion yuan ($486.2 million) in research and development of artificial intelligence technology focused on “intelligent driving”. Also read: Honda zero series: Lighter, aerodynamic EVs redefining sustainable driving Xpeng has a driver assistance system called Xpilot, which allows its cars to perform certain functions semi-automatically. The CEO also said Xpeng plans to launch about 30 new or upgraded cars in the next three years. This year, the company will launch its first models priced above 300,000 yuan and 150,000 yuan.