XPeng Eyes Entry into South Korean Market, Joining Other Chinese EV Firms
Chinese electric vehicle maker XPeng is preparing to expand into South Korea, adding new pressure on local carmakers and increasing competition from China’s growing EV industry. The company recently formalized its business in Korea using the name XPeng Motors Korea and set up offices in Sinjeong-dong, Seoul. This move follows the path of other Chinese brands such as BYD and Zeekr, which have already entered the market. Founded back in 2014, the firm has quickly become a major electric car startup in China. It is often called “China’s Tesla” because of its rapid rise and strong focus on technology. Beyond…