Xpeng's New Manufacturing Platform Aims to Cut Costs Amid Tesla Price Cuts in China

Chinese electric vehicle maker Xpeng plans to cut 25% off the costs of its power train, battery cells included, and save 50% on intelligent driving features by the end of 2024, according to co-president Brian Gu. The company is also betting on a new design and manufacturing architecture, SEPA2.0, to boost efficiency and reduce costs. Xpeng will introduce its first model developed on the new platform, a mid-sized sports utility vehicle to rival the Tesla Model Y, when the Shanghai International Auto Show opens to the media on April 18.