He Xiaopeng

"Even in 2025, the minimum price for a company that wants to make a gross profit on a smart electric car is RMB 150,000 yuan."

Xpeng plans to be present in all Chinese cities and dozens of top-ranked counties this year, He said.

He Xiaopeng said the P7 is a quest for the ultimate, including performance, looks and personality, while the P5 is geared toward the family.

He said he had tried a similar model when he was at UCWeb and "died a horrible death".

Given that Xiaomi just announced its entry into the car-making industry three days ago, this gathering of the leaders of China's most prominent new energy vehicle companies has quickly generated widespread interest among Chinese Internet users.

Xpeng Motors CEO He Xiaopeng took to Weibo on March 31 to welcome Xiaomi as a peer, after the smartphone giant officially announced its entry into China's increasingly crowded car-making industry.

He also said that the most impressive thing at that time was the RMB 100,000 SME Technology Support Fund from the Tianhe District Government of Guangzhou.

At that time, He gave support to Nio despite the opposition of his friends and also invested a total of $300 million in Xpeng.

"By the end of 2019 to the beginning of 2020, I made enough money to buy two or three planes, but then I've been putting it into my startup," he said at the GeekPark Innovation Conference 2021.

In the current market environment, the differentiation of companies' products gives each company, including Xpeng Motors, a lot of room for market improvement, according to Xpeng Chairman and CEO He Xiaopeng.