In a move that has grabbed headlines in the electric vehicle (EV) industry, Nio founder, chairman, and CEO William Li recently purchased an Xpeng X9 MPV directly from Xpeng’s chairman and CEO He Xiaopeng.
This marks a significant event for several reasons. It’s the first time in nearly eight years that Li has purchased a vehicle from a competitor, highlighting a growing sense of mutual respect and evolving dynamics between the two leading Chinese EV companies.
The Xpeng X9, launched in January 2024, is the company’s flagship model and caters to the luxury family MPV segment. With a starting price of $49,800, the X9 has been a sales success for Xpeng, contributing over 31% of their total sales in the first four months of the year.
Adding a layer of intrigue to the story is the backstory behind Li’s purchase. During a phone call last December, Li jokingly pledged to buy an Xpeng X9 once available. He Xiaopeng responded with a lighthearted offer of a 50% discount, showcasing a friendly rivalry and camaraderie between the two CEOs.
This purchase has broader implications for both companies. While Nio currently focuses on sedans and SUVs, they have plans to introduce MPVs on their upcoming N 3.0 platform, aiming to expand their market presence.
He Xiaopeng’s visit to Nio included a tour of their battery swap station network, the largest in China. His playful suggestion about Xpeng potentially joining the network hints at future collaboration in infrastructure sharing, which could benefit the entire EV industry.
This visit follows Volkswagen’s significant investment in Xpeng announced in July 2023. The partnership aims to co-develop two Volkswagen-branded electric vehicles for the Chinese market. He Xiaopeng’s tour of the Volkswagen factory in An Province further emphasizes the deepening ties between Xpeng and Volkswagen in their joint push for electric mobility.
Li’s purchase of the Xpeng X9 is more than a simple transaction. It symbolizes the evolving relationships, strategic partnerships, and competitive spirit driving the EV revolution. As Xpeng and Nio continue to innovate and expand, their leaders’ collaboration and shared vision for the future of mobility will likely inspire further advancements in the industry. This story underscores the dynamic nature of the EV market and the relentless pursuit of excellence by its key players.
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