Chinese electric vehicle manufacturer Xiaopeng delivered the first batch of vehicles in Norway and officially entered the European automobile market. Since its listing in the United States in August this year, Xiaopeng’s share price has soared.
Xiaopeng, headquartered in Guangzhou, has delivered the first batch of 100 G3 electric SUVs to Norwegian consumers, and electric vehicles have already seized most of the market share in the country. G3 starts at 358000 kroner (about 41000 US dollars) in Norway.
Gu Hongdi, President and vice chairman of Xiaopeng automobile, said in an interview that the company will enter more European countries in the future, but in the next 12 months it will slowly decide which country it will enter next, so as to lay a foundation for sales. “In the long run, if you want to be a successful electric vehicle company, you have to be a global company,” Gu said. We are starting to work hard to build our sense of presence, conduct limited testing in some markets, and use it as a very long-term strategy. “
With Tesla becoming one of the most valuable enterprises in the world, Xiaopeng and other electric vehicle enterprises from China, such as Weilai and ideal, have caught up with the trend of electric vehicles. In 2018, Gu Hongdi resigned from the senior management position of investment bank JPMorgan Chase and joined Xiaopeng. Under his leadership, Xiaopeng was listed on the New York Stock Exchange on August 27 this year. After the IPO, the company’s share price has risen 230%.
The government of Norway has provided supportive policies for electric vehicles and established advanced charging infrastructure. Therefore, consumers in Norway have a high degree of awareness of electric vehicles, which makes Norway the best landing place for Xiaopeng to enter Europe. Although Norway’s overall market is small, almost 80% of the vehicles registered in the third quarter are electric vehicles.
In the Norwegian market, Xiaopeng chose to cooperate with local dealers. However, when entering other European countries, whether to cooperate with local partners or sell on its own will be one of the factors considered by the company. “Our European strategy is still at an early stage,” Mr Gu said
Editor in charge: yyx