XPeng Motors CEO He Xiaopeng predicts a price war in the EV market starting in January 2025 due to intense competition and oversupply in the Chinese market. This could lead to cheaper EVs globally, potentially boosting EV adoption worldwide.
One of China 's top automakers expects 2025 to be the start of an EV price war. Cheaper EVs could spill out of China and result in lower prices across the globe. This could be pivotal to EV adoption worldwide when consumers are thirsting for affordable electric cars. The EV industry is entering 2025 with more competition, complications, and politicized unknowns than ever.
But even so, the expectation is that growth will continue to take off (more on this later) and it will be fueled by vicious cuts to the bottom line—or, at least that's what China's XPeng Motors' CEO, He Xiaopeng, believes. In an internal letter shared with CNEVPost, the CEO proclaimed that his bold prediction for the year is that the market is going to war. A price war, that is. 'The market will definitely see fiercer competition in 2025,' said the CEO in a letter to XPeng staff obtained by CNEVPost. 'And I can even make a bold prediction that price war will ignite from January.' See, China's EV market has been on a complete tear lately. Consumers have been lapping up domestic vehicles with a bottomless demand, and that's led to a two-fold problem for the industry. First, it's created a ton of competition. China's EV industry has more than 100 EV manufacturers competing against one another, which will undoubtedly lead to some oversaturation that smaller automakers may not be able to sustain. And for those who have prepared themselves by producing more than the domestic market can buy, well, that sets them up for international success barred only by protectionistic measures put in place by other countries. Enter: the domino effect. XPeng believes the next two years will be crucial for its success. Currently, the brand has entered 30 different countries and regions. The brand expects to expand its presence to 60 by the end of 202
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