The comment came as the Guangzhou-headquartered firm introduced the latest version of its X9 multi-purpose vehicle to the SAR market.
The seven-seater is equipped with autonomous driving capabilities powered by its own artificial intelligence chip, and the firm plans to take orders from Europe from the second half of this year.
At a press conference held at Kai Tak, XPeng’s founder He Xiaopeng said AI technology is key to the company’s future.
“The technology of artificial intelligence has driven the industrial changes for automobiles. And this change, I believe, will lead to all auto firms to establish their own software platforms and greatly increase their research and development,” he told reporters.
The XPeng founder said the China auto market is highly competitive.
“In a sense I am actually quite concerned about the car companies in China. For now there are about 400 to 500 car makers in China. I believe in the end, there’ll only be about 10 or fewer that can survive.”
He predicts half of the firm’s EV sales will come from the overseas markets in the coming decade, up from 15 percent currently.
The EV entrepreneur also said he believes more Chinese brands will enter the global market in the future, with each firm eyeing about 10 to 12 core markets that span across Europe, Southeast Asia, the Middle East and Latin America.
Right now, the firm has a presence in more than 30 countries and regions around the world, and it hopes to double that number by the end of the year, with Hong Kong being a launch pad.
On the impact of US tariffs, XPeng said it has not sold any EVs in the country but that it will continue to monitor development.
“As a company, we cannot escape the economic volatility that came with the trade tensions. We need to be prepared to make sure that our products continue to sell well,” said Brian Gu, the firm’s vice chairman and president.
“And we also need to be prepared that the tariffs may have an impact on the global supply chains.”
XPeng is also investing in the development of robotics and flying vehicles, in a bid to capitalise on the growing low-altitude economy.
