Shulou(Shulou.com)11/24 Report--

Beijing, January 31 (Xinhua) Xiaopeng Motor has postponed its profit target to 2025 after a terrible year. Xiaopeng's share price plummeted 80% in 2022, with delivery less than half of its annual sales target.

Xiaopeng CEO he Xiaopeng said in an interview at its Guangzhou headquarters that the company had aimed to break even by the end of 2023 or early 2024, but now expects to achieve operating profit by 2025.

In order to achieve this goal, he Xiaopeng is betting boldly on fully autonomous driving. Even Tesla, the pioneer of electric cars by Elon Musk, failed to achieve perfection in this technology after years of hard work.

He Xiaopeng aims to capture at least 20 per cent of the market for what he calls "all-smart cars". He was referring to cars that are "infinitely close to level 4 (Level 4) self-driving", which can cope with complex urban traffic conditions. At the level 4 technical level, although human drivers still need to control the car, they can theoretically take a nap in the car.

Although no mass-produced passenger cars can meet this standard, he Xiaopeng said that the rapid development of technology will make the all-intelligent car market grow to about 5 million vehicles a year in five years. To capture a 1/5 market share, Xiaopeng needs to produce 1 million cars a year, well above its 120757 shipments in 2022, which is well below its target of 250000 deliveries.

"our top priority now is scale." He Xiaopeng said. He added that it might be impossible for a "small and beautiful" carmaker with less than 100 billion yuan in revenue to survive in China within five years. Xiaopeng has not yet released full-year results, but revenue in the first three quarters of 2022 was only 21.7 billion yuan.

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