Chinese EV maker and Tesla Inc. rival XPeng (NYSE:XPEV) will reportedly hire over 6,000 workers in the coming year.
What Happened: XPeng will hire more than 6,000 workers in 2025 in light of the increased competition expected next year, Reuters reported, citing an internal letter dated Tuesday from company co-founder and CEO He Xiaopeng.
Xiaopeng is now expecting a price war to begin in January. The company is also looking to expand its global footprint to over 60 markets in 2025, the report added.
Why It Matters: Last month, XPeng witnessed its deliveries rise to 30,895 vehicles, marking an increase of 54% year-over-year and 29% from October.
XPeng President Brian Gu said in an interview with Reuters last month that it is expected to break even sometime later in 2025. In the quarter that ended in September, Xpeng recorded a revenue of $1.25 billion from vehicle sales and a net loss of $0.26 billion.
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