Xpeng will spend RMB 3.5 billion ($480 million) in 2024 on R&D of AI technology around smart driving and recruit 4,000 new professionals.
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Li Auto had record weekly order growth over the Labor Day holiday in early May, its CEO said.
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Li Auto guides for second-quarter vehicle deliveries to be in the range of 105,000 to 110,000, meaning it expects to deliver a total of 79,213 to 84,213 vehicles in May and June.
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SAIC and Audi are combining their resources to jointly develop a series of EV models, with the first product expected to go on sale in 2025.
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At the end of 2023, Nio was taking about 295 days to clear receipts payable, and Xpeng 221 days, compared with 197 days and 179 days, respectively, in 2021, according to Bloomberg.
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Xpeng will offer its autonomous driving and EV technology to other automakers, allowing the company to generate a new stream of revenue, its vice president Brian Gu said in an interview with the South China Morning Post.
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Thousands of completed Li Megas are currently parked in the parking lot of Li Auto's Beijing plant, according to local media.
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The Xpeng G6 debuts in Hong Kong at a starting price of HK$299,900 ($38,440), with the first deliveries of the right-hand drive version expected in the third quarter.
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Gotion has launched the G-Current, which supports ultra-fast charging, the Stellary Battery, a large cylindrical battery, and announced the Gemstone, an all-solid-state battery.
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Li said this in response to a question about Nio's sales expectations for Onvo's first model, and used English when referring to 'P&L'.
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