Shanghai (ZXZC)- XPeng Inc. will launch 2 to 3 new models per year from the year of 2023, which will all support both Chinese domestic and overseas markets in terms of hardware, software, and services, He Xiaopeng, Chairman and CEO of XPeng, revealed at an earnings call after releasing the company's second-quarter (Q2) financial results.

XPeng P7, G3; photo credit: XPeng

He said XPeng expects the full-year investment in R&D businesses to reach 4 billion yuan ($617.694 million) in 2021. As of June 2021, XPeng's R&D team had exceeded 3,000 people, an increase of about 50% from the beginning of this year, and the team will expand to 4,500 people by the end of 2021.

XPeng plans to complete its basic deployment in overseas markets between 2020 and 2022, and accelerate its global expansion through XPILOT 4.0-enabled models starting in 2023.

The company will widen its product price range to 150,000-400,000 yuan from 150,000-300,000 yuan, so as to make more advanced intelligent vehicles cover a wider customer base.

By the end of 2021, XPeng's physical sales network is expected to consist of over 350 stores and the number of XPeng's supercharging stations will hit 500.

In July 2021, XPeng commenced pre-sales for its third mass-produced model, the P5 sedan. The model will officially go on sale in China in September 2021 with deliveries starting in the fourth quarter of 2021.

According to XPeng, the production of the XPeng G3i, P7, and P5 will all be carried out at the Zhaoqing plant, XPeng's first self-built manufacturing factory. The plant's monthly capacity is expected to reach 15,000 vehicles in the fourth quarter this year.

Meanwhile, He Xiaopeng said the company will take a number of measures to handle the chip supply constraint, including placing clear orders earlier, forming strategic partnerships with chip and main auto parts suppliers. Besides, making investment in chip business and building stable procurement tie-ups with government and chip companies are also taken into consideration.