Xpeng Plans To Expand Into More European Markets

President Brian Gu of the Chinese electric vehicle manufacturer Xpeng told reporters on Monday at the IAA Mobility auto show in Munich that the company plans to enter more European markets in 2024, including Germany, Britain, and France.

The company will start selling its G9 and P7 electric vehicles in Israel at the beginning of next year, according to Reuters. Gu also said that the G6 will be the company's first right-handed model.

“We have a bold plan to move into the global arena,” he said. The company already sells in the Netherlands and Norway.
China's EV manufacturers are looking to expand in the region, aiming for higher margins and faster growth in overseas markets while competing with European companies on their home turf with lower-cost models.

Chinese EV manufacturers are also contending with a bruising price war at home, which has reduced profitability and stifled growth.

While EV sales in South East Asia and South America have increased rapidly, the European market has remained difficult for Chinese automakers.

Despite their ability to offer competitively priced models, Chinese manufacturers have faced challenges in Europe such as regulations, EV infrastructure, consumer preferences, and brand recognition.