Each is expected to generate more than $300 billion in annual revenue and be able to impact the lives of many more people, he said.

(Image credit: Sina)

In the global transition to electric vehicles (EVs), new energy vehicle (NEV) makers are also emerging rapidly, especially in China. In the opinion of He Xiaopeng, chairman and CEO of Xpeng Motors, only a few will be able to become major players globally in the future.

In the NEV industry, there will be five to 10 major players worldwide in the future, he said, adding that each one is expected to have total revenues of more than $300 billion per year and be able to impact more people's lives.

He made the remarks in a speech delivered at an online forum held by Chinese news portal Sina.

"At that time, (NEVs) will have the same impact on our lives as the iPhone 4 and a series of phone makers, including Xiaomi, Huawei and Apple, have had on our lives," he said.

In the past two or three years, the NEV industry has been hot around the world, and he believes that in the short term, this is a reflection of the fact that Industry 4.0 has reached its primary stage.

"In the long term, NEVs will become a huge necessity in the energy, travel, transportation and lifestyle sectors, and will certainly make a fundamental difference to human life in the next five to 20 years," he said.

With the NEV market still in its nascent stage, many car companies, including startups as well as traditional ones, have unveiled ambitious plans to quickly capture the market.

Chinese electric car startup Leap Motor has previously said it aims for an overall sales target of 800,000 units by 2025.

Geely, China's largest private automaker, said early last month that it was aiming for 3.65 million total sales by 2025, including 650,000 for Zeekr and 3 million for Geely Auto.

Geely Auto aims to achieve 900,000 NEV sales by 2025, accounting for 30 percent of its total sales.

Changan Automobile has also said that by 2025, the brand will reach 3 million units in sales, with 35 percent of them NEVs.

XPeng delivered record 15,613 units in Nov, up 270% year-on-year