Chinese electric vehicle maker Xpeng plans to hire 4,000 new employees and invest $486 million in artificial intelligence technology. The investment will focus on research and development for Xpeng's "intelligent driving" system called Xpilot, which enables some autonomous functions. Xpeng also intends to launch around 30 new or upgraded vehicle models over the next three years, including higher-priced and lower-priced options. CEO He Xiaopeng warned of intense competition in China's EV market that could result in a "bloodbath" or "knockout round" among automakers.
