Xpeng is asking dealers to purchase vehicles for half of their target sales each month, rather than requiring them to purchase the entirety of their target sales as traditional brands do, according to local media.
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Wang has restructured Xpeng's overseas business team, adding the Middle East as a key market and will invest more resources, according to local media.
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Xpeng's two new platforms will see the launch of their respective first models in 2024, complementing the company's lineup in the RMB 100,000 to RMB 400,000 price range.
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Xpeng has made a new round of organizational changes led by new president Wang Fengying, involving teams including marketing, human resources, data, manufacturing and product planning, according to local media.
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Xpeng emphasized that the move does not affect businesses including commerce and production. The company fell more than 10 percent in the US on Monday.
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Xpeng said it has received more than 1,200 applications to join its sales system since the launch of the Jupiter Project.
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Xpeng plans to add 500 integrated stores with sales and service functions, 1,000 experience centers and satellite stores over the next three years, according to local media.
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Downsizing the number of directly operated stores is becoming a new industry trend, with both Xpeng and Zeekr increasing the proportion of dealer stores, according to local media.
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Xpeng has confirmed that the head of the company's autonomous driving business is leaving, after rumors earlier today caused its Hong Kong-traded stock to plummet.
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At the end of 2022, Nio had 26,763 full-time employees, higher than Li Auto's 19,396 and Xpeng's 15,829.
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