Business Insider
CEO He Xiaopeng and co-president Brian Gu revealed the P7+ with camera-powered partially autonomous driving.
Executives also discussed the company’s investments in humanoid robots, flying cars, and AI hardware.
Speaking to reporters, Gu said that although the tariffs, which could see manufacturers face extra levies as high as 35%, would put pressure on Xpeng’s business model, the company was not backing down from its European expansion plans.
“We have a long-term and strong commitment to Europe, which is a region that we think is a core to our business. We will do whatever is necessary to be competitive,” he said.
European automakers despair
Among the local automakers at the event, the atmosphere was less positive.
Stuttering EV sales across the continent have meant some European manufacturers have scaled back their EV plans and are lobbying the EU to rethink emissions targets they say will cost them billions in fines.
Speaking at a summit on the sidelines of the motor show, BMW CEO Oliver Zipse said the mood in Europe’s auto industry was “trending toward pessimism.”
He warned that a planned 2035 ban on gasoline vehicles in Europe could “threaten the European automotive industry in its heart,” while the CEO of French automaker Renault said that it was clear that Chinese automakers had accelerated beyond their Western rivals.
“Europe is not the leader anymore. No one can put heads in the sand anymore — the center of gravity is now in China,” said Renault boss Luca de Meo, speaking at the same event.
Nowhere was that more apparent than at the booth occupied by Chinese EV maker Leapmotor.
MAGALI COHEN/Hans Lucas/AFP via Getty Images
After launching two new models in Europe last month, the EV startup unveiled the B10, an electric vehicle it is planning to sell globally from next year and which could cost 100,000 RMB ($14,000) in China.
While unveiling the new model, Leapmotor CEO Zhu Jiangming was joined by Carlos Tavares, the CEO of Jeep, Ram, and Fiat maker Stellantis.
The European automaker struck a deal with Leapmotor earlier this year to invest in the company and gained exclusive rights to sell its affordable EVs outside China.
Speaking at the automotive summit on Tuesday, Tavares said European automakers needed to accept the “harsh reality” that Chinese companies were now capable of making EVs for far cheaper than their European rivals.
He added that the Leapmotor partnership had been necessary for Stellantis to compete with the country’s electric vehicle giants.
“For us, the best way to compete immediately with the Chinese was to hop on their train, rather than letting it run us over,” Tavares said.