financetom
Technology
financetom
/
Technology
/
XPeng CEO says its software, AI upgrades to enter 'super fast cycle'
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
XPeng CEO says its software, AI upgrades to enter 'super fast cycle'
Apr 24, 2024 9:08 PM

BEIJING (Reuters) - Chinese electric vehicle (EV) maker XPeng ( XPEV ) on Thursday said its software and artificial intelligence training upgrades will enter a "super fast cycle" from May, and that it hopes use of its platform will expand to other Asian countries and Europe.

He Xiaopeng, founder and CEO of the automaker backed by Germany's Volkswagen, said software will be refreshed with upgrades every two months, in comments made at a press conference on the opening day of the Beijing auto show.

"This year, I believe XPeng ( XPEV ) will far surpass all of China's autonomous driving technology rivals," he said.

While rival Chinese automakers have been cutting costs amid a price war, XPeng ( XPEV ) has pledged to invest heavily in technology innovation as buyers in the world's largest auto market increasingly seek more high-tech features when choosing cars.

In February, XPeng ( XPEV ) said it plans to hire 4,000 people this year and invest 3.5 billion yuan ($482 million) in artificial intelligence for intelligent driving technology.

He also said he hoped a smart EV that Xpeng ( XPEV ) is developing under new brand "Mona" will sell better than the SU7 from Xiaomi in the second half of this year, and that Xpeng ( XPEV ) plans pre-sales for a flying car in the fourth quarter.

XPeng ( XPEV ), one of China's best-selling EV startups, counts Volkswagen as a shareholder after the German automaker invested around $700 million for a 4.99% stake.

Volkswagen has said it developed a new architecture for intelligent and electric cars with Xpeng ( XPEV ) that will help the German automaker offer more affordable models.

($1 = 7.2467 Chinese yuan)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Brent oil price forecast update 14-06-2024
Brent oil price forecast update 14-06-2024
Jun 14, 2024
Brent oil price trades with clear positivity to approach 83.00$ barrier, reinforcing the expectations of continuing the bullish trend for today, motivated by stochastic positivity, reminding you that our waited targets begin at 83.70$ and extend to 84.77$, while holding above 82.40$ represents major condition to achieve these targets. The expected trading range for today is between 81.10$ support and...
Decoding 5 Analyst Evaluations For Aspen Technology
Decoding 5 Analyst Evaluations For Aspen Technology
Jun 14, 2024
During the last three months, 5 analysts shared their evaluations of Aspen Technology ( AZPN ) , revealing diverse outlooks from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 1 0...
Forecasting The Future: 8 Analyst Projections For Tenable Holdings
Forecasting The Future: 8 Analyst Projections For Tenable Holdings
Jun 14, 2024
Analysts' ratings for Tenable Holdings ( TENB ) over the last quarter vary from bullish to bearish, as provided by 8 analysts. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 5 2 1 0 0 Last...
Critical Insights From MicroStrategy Analyst Ratings: What You Need To Know
Critical Insights From MicroStrategy Analyst Ratings: What You Need To Know
Jun 14, 2024
In the last three months, 10 analysts have published ratings on MicroStrategy ( MSTR ) , offering a diverse range of perspectives from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish...
Copyright 2023-2025 - www.financetom.com All Rights Reserved