Xpeng boss: EV prices in UK and EU unlikely to drop
Brian Gu says he sees Chinese car firms competing on quality rather than launching price war as at home Motorists in the UK and EU should not expect a sharp drop in the cost of electric vehicles despite increased competition among Chinese manufacturers, one of the country’s biggest electric carmakers has said. Brian Gu, the vice-chair of the manufacturer Xpeng, said that Chinese carmakers could compete on quality to win customers in the EU and UK, rather than unleashing a bru
Brian Gu, vice-chair of Xpeng, stated that Chinese car companies are focusing on quality over price competition in the UK and EU. He mentioned that these firms are not expected to trigger a price war in these regions. The competition from Chinese manufacturers is increasing but not leading to significant price reductions. Xpeng and other Chinese automakers are aiming to attract customers through improved quality. This approach differs from the strategies used in China. The UK and EU markets are not anticipated to see a sharp decline in EV costs. The emphasis is on quality and innovation rather than price cuts.
This indicates a shift in strategy by Chinese automakers, focusing on quality over price competition in key international markets.
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