XPENG joins Fortune China 500 and Tech 50 lists

Chinese electric vehicle manufacturer XPENG has secured a place on the Fortune China 500 and Tech 50 lists. 

The placings were announced on October 16 and 17 during the Fortune China Tech 50 Innovation Night and the 2024 Fortune China 500 Summit, which were held in Shanghai. 

The Tech 50 is an inaugural list by Fortune China that spotlights Chinese tech companies making a global impact. Companies are judged on technical innovation, global economic influence, and positive social impact.

XPENG was one of only two automotive companies to make the list, thanks to its AI-defined mobility technology, breakthroughs in autonomous driving, and AI model applications.

Fortune China praised XPENG for its edge in intelligent driving technology. 

“XPENG is a formidable competitor in the sector as the race for dominance in autonomous driving intensifies. Innovation fuelled by technology is the foundation of its strategy,” Fortune China says 

“In May, XPENG announced the mass production of its end-to-end AI model. Rolled out to users through the AI-powered Tianji XOS system, the model is called ‘the first system in the industry to apply AI technology to both smart cockpit and ADAS systems.’ 

“In July, XPENG partnered strategically with Volkswagen to co-develop electronic and electrical architecture technology. The partnership leverages both companies’ technological advantages to expand their market influences, a move seen as a pivotal moment in XPENG’s expansion,” it says. 

Fortune China is a globally renowned business publication. Its annual “Global 500” list is a benchmark for corporations. The 2024 Fortune China 500 ranking uses the same methodology as its international counterpart, covering public and private companies from the Chinese mainland, Hong Kong, and Taiwan. 

Founded 10 years ago, XPENG has adhered to its brand vision of being an “Explorer of Future Mobility” by leveraging technology to transform how people travel. The company has made strides in AI applications and is poised to lead the industry in the coming decade. 

XPENG’s self-developed Turing Chip, the world’s first AI chip designed for AI-defined vehicles, robots, and flying cars, has been successfully launched, and pre-orders for its AI-powered P7+ car have commenced.

Over the next decade, XPENG aims to become a global AI mobility leader and develop an AI ecosystem based on five pillars: high-performance chips, AI models, AI-defined vehicles, robots, and flying cars, where the first two will serve as foundations for the latter three.

The company believes it plays a critical role in the ongoing electric vehicle revolution on a global scale. 

XPENG has expanded its sales to over 30 countries and regions. It is now focused on scaling up its international operations, with plans to enhance its worldwide R&D and sales presence. It aims for overseas markets to account for half its total sales in the next ten years, significantly expanding its global user community.