Chinese electric vehicle maker Xpeng said it would hire 4,000 this year and invest millions in artificial intelligence, as it seeks to survive what it describes as a “bloody sea” of competition in the world’s largest auto market, reports Reuters. The additional employees would represent a 25% expansion of the Volkswagen-backed EV maker’s workforce from the latest headcount of 15,829 at the end of 2022.
The expansion was announced in a letter from Chief Executive He Xiaopeng to employees on Sunday, the first working day after the Lunar New Year holiday.
The company will also invest RMB 3.5 billion ($486.36 million) in AI research and development for intelligent driving, He said, adding that Xpeng plans to release around 30 new products or revised models within three years.