The remaining two of Xpeng's three co-founders have exited from the core management team, with the team led by chairman and CEO He Xiaopeng taking full reign of the company.
(Image credit: CnEVPost)
The remaining two of Xpeng's (NYSE: XPEV) three co-founders have exited the core management team, leaving chairman and CEO He Xiaopeng to lead the company.
The latest update to the electric vehicle (EV) maker's website shows that its core management team consists of Mr. He Xiaopeng, president Fengying Wang, and vice chairman and co-president Brian Gu.
Two co-founders, Herry Xia and He Tao, are no longer on the core team list, and they are listed as lifetime honorary members. Previously, Xia Heng was co-founder and co-president and He Tao was co-founder and senior vice president.
The change sparked reports in local media about Xia and He Tao's exit from Xpeng. The company later responded to several media outlets that they would continue to support the company as lifetime honorary advisors.
(Screenshot of the Xpeng website on March 13, 2024)
This means that all three of the company's co-founders have left Xpeng after another co-founder, Yang Chunlei, left the company in 2017.
Unlike Nio (NYSE: NIO), which was founded by chairman William Li, and Li Auto (NASDAQ: LI), which was founded by chairman Li Xiang, Xpeng's chairman joined the company after its inception.
Xia, He Tao and Yang co-founded Xpeng in 2014, and He Xiaopeng was an angel investor in the company at the time.
In August 2017, Mr. He left Alibaba and officially joined Xpeng in the position of chairman. Yang exited the company in 2017.
Beginning in late 2022, Xpeng kicked off a protracted team restructuring that saw several core executives leave the company.
Effective January 30, 2023, Wang, who had worked for Great Wall Motor for more than 30 years, joined Xpeng as president, responsible for product planning and sales and service systems.
(Screenshot of the Xpeng website on January 30, 2023)
Ms. Wang has taken over Xpeng's international business center to fully lead the company's overseas sales, Jiemian said in a February 18 report, citing people familiar with the matter.
Wang has restructured Xpeng's overseas business team, adding the Middle East as a key market and will devote more resources to it, according to the report.
