Xpeng to launch cheaper EV brand as price competition intensifies in China

Xpeng to launch cheaper EV brand as price competition intensifies in China

FILE PHOTO: XPENG Motors (Guangzou Xiaopeng Motors Technology) logo is seen in this illustration taken January 16, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Chinese electric-vehicle (EV) maker Xpeng announced plans to launch a cheaper brand, entering a highly competitive segment amid an intense price competition in the EV industry.

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