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China is returning to work following a break to celebrate the 2024 Lunar New Year, and XPeng Motors looks to hit the ground running with massive expansion plans. According to an internal letter, XPeng Chairman CEO He Xiaopeng detailed plans to deliver about 30 new and updated EV models over the next three years, bridging the price gap between $14,000 and $56,000 vehicles in China.

XPeng Motors ($XPEV) is a Chinese EV brand celebrating ten years in this business in 2024. In that relatively short time, the automaker has climbed the ranks as one of the top EV developers in China, competing against NIO and current market leader, BYD.

Like its competitors, XPeng has expanded to new markets in Europe over the past few years while simultaneously bolstering its EV lineup in China with new models like the G9 and, most recently, the X9 multi-purpose vehicle.

While XPeng’s advanced air mobility (AAM) AeroHT works to deliver genuine flying cars to the masses, its parent company remains focused on delivering more and more new EVs in China and beyond… just not the US anytime soon.

Still, XPeng Motors continues to gain momentum as an EV contender and appears to be planning an onslaught of new models in its three-year pipeline.

XPeng new EVs
XPeng’s newest EV to launch in China, the X9 MPV / Source: XPeng Motors/Weibo

XPeng is planning a slew of new and updated EVs

According to an internal letter from XPeng Chairman and CEO He Xiaopeng, obtained by CnEVPost, 2024 will be the year the Chinese automaker breaks out on the wings of a bolstered product and technology platform.

The letter states that XPeng is planning approximately 30 new or refreshed EV models over the next three years – a massively ambitious rollout for any OEM, let alone one focused explicitly on nascent EV technology – a segment that has not come anywhere near approaching its tremendous potential yet.

XPeng’s previously mentioned platforms will power two initial EVs targeting prices in the RMB 150,000 ($21,000) price range, as well as RMB 300,000 ($42,150), thus bridging a previously vacant price gap for XPeng in China, offering consumers new EVs in every class, from RMB 100,000 ($14,0000), all the way up to RMB 400,000. ($56,200).

According to Xiaopeng, the reasoning behind the ambitious expansion is to compete in a Chinese EV industry that is becoming more and more intense, stating that 2024 will go down as a “sea of blood” competition amongst local automakers, kicking off the segment’s first “elimination round.”

To support its development goals for the next three years, XPeng says it will conduct about 4,000 new hires and enrich its research and development budget by over 40% YOY to “fight for tomorrow.” While many OEMs in China and beyond (US included) are backtracking on EV development targets, XPeng’s CEO sees a window of opportunity to capitalize and will push ahead harder and faster than before:

We will go forward in 2024 and enter a high-speed positive cycle in the fourth quarter or a little earlier.

Starting this month, we will make the company more successful with a more advanced and efficient full-process system based on the new XPeng Product Development (XPD) system, which is the full lifecycle product development management system V1.0 with XPeng features

Looking ahead, smart driving technology will remain a key focus for XPeng throughout its new EVs, and the automaker plans to invest RMB 3.5 billion (~$492M) in 2024 alone toward the R&D of artificial intelligence to support those ADAS functions. This year also marks XPeng’s new strategy of merging marketing of its cars, internet, and phones into one holistic system to ensure the company is recognized as “one of the undisputed first-tier players in the industry.”

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777 hp electric overland concept from Italdesign bows in Beijing [video]

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777 hp electric overland concept from Italdesign bows in Beijing [video]

The all-new, all-electric Italdesign Quintessenza concept is a high-tech Italian take on the Porsche Dakar concept that’s just begging to be put into production.

Making its debut at the Beijing Auto Show, the Italdesign Quintessenza concept embodies both the dynamic prowess of a GT and the versatile adaptability of a pick-up truck. At least, that’s what its makers say. And, if your idea of a pickup truck leans more towards “Subaru Brat” than “Ford F-150 Lightning,” that’s probably right!

The rear section of the Quintessenza converts from a “hatchback” to an open “pickup” bed in true Brat fashion. The rear seats are designed to flip 180-degrees backwards, providing a rear-facing, panoramic “stargazing” mode that promises, “(the) experience and feeling of connection with nature and the outside world.”

Stargazing mode

In its more conventional GT “mode,” the Quintessenza is arguably the best-looking Italdesign concept to come out in years, with vertical lighting elements up front and aggressively-sculpted rear haunches that this writer thinks would be a natural for Audi.

Those design elements aren’t just aesthetic – they’re loaded with electronics. “Two aerodynamic fins that integrate the ADAS systems are present on the upper back of the roof, at the level of the C-pillars,” reads the official release. “They map the surrounding environment when the satellite signal is poor, and offer multifunction lights indicating the car’s driving mode and braking when the hard top is removed.”

Quintessenza vertical elements

So, what kind of vehicle is the Italdesign Quintessenza? Is it a true overland GT, in the style of the Porsche Dakar or 911 SC/RS (the rally car that became the 959)? Is it a high-end spin on the classic Subaru Brat? A futuristic Ute for traversing the Australian outback? Or is it something else entirely?

That’s above our pay grades – but you, dear readers? You guys know what’s up, so check out the official Quintessenza launch video (below), then let us know what you think of Italdesign’s latest in the comments section at the bottom of the page.

Italdesign Quintessenza

DIMENSIONS

  • Length 5561 mm
  • Height 1580 mm
  • Width (front/rear) 2200 mm
  • Wheelbase 3240 mm
  • Front overhang 1003 mm
  • Rear overhang 1318 mm
  • Number of passengers 2+2
  • Body Lightweight Aluminum structure
  • Ground height Adjustable 200-280 mm

POWERTRAIN + PERFORMANCE

  • Battery 150kWh/800V
  • Power 580kW (approx. 777 hp)
  • Range 750 Km (approx. 465 miles)
  • 0-100 Km/h < 3 seconds
  • 1 Electric Drive Unit Front axle
  • 2 InWheel motor rear axles

SOURCE | IMAGES: Italdesign.

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The new Momentum Cito E+ dares you to leave the car at home [Video]

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The new Momentum Cito E+ dares you to leave the car at home [Video]

All the cool suburbanites are already taking their kids to school, loading up at the farmers’ market, and making deliveries on clever and capable cargo e-bikes, but the new Momentum Cito E+ from Giant raises the cargo bike bar even higher — and makes leaving the car at home easier than ever.

Momentum is a new brand of “lifestyle” e-bikes from Giant Group designed to deliver premium features to customers while still hitting that $3,000-4,000 market “sweet spot.” Their latest bike, the all-new for 2024 Cito E+ utility bike, does just that, coming to market with a premium battery, Bluetooth technology, a suite of high-end safety features, and a $3,200 starting price.

Premium battery

Getting the most out of your e-bike often means getting the most out of your battery — and Momentum absolutely gets that. The Cito E+ ships with a 780 Watt-hour Panasonic battery pack with 22700 cells that have been optimized for e-bike use.

Compared to other ebike batteries with similar power ratings, the Momentum’s Panasonic battery promises to be lighter and more durable, with superior IPX7 weather protection, thermal regulation, and other safety features built-in (in fact, Panasonic was the first e-bike supplier to score a UL safety rating for its batteries).

The battery is easily removable for charging at home or in an office, but it can be charged while it’s in the bike, too. Either way, charging won’t take long — from 0 to 80% of charge (approx. 60 miles) of range is available in 3.5 hours, while a full (75 mile) charge takes less than 5 hours.

Connected cargo bike

As our test rider highlights in the video (above), the Momentum Cito E+ uses a proprietary battery management system, or BMS, to monitor the battery pack for maximum efficiency and reliability down to the individual cell level.

The BMS uses Bluetooth connectivity to transfer battery health data, state of charge, and other important information straight to the RideControl app, which enables the bike’s owner to get an in-depth look at the overall state of their e-bike and provides valuable diagnostic data to both the technicians tasked with servicing the bike and Giant themselves, to help develop even better e-bikes in the future.

2024 Giant Group dealership map; via ScrapeHero.

That connection to Giant Group is a huge potential benefit to Momentum Cito E+ buyers, by the way, as it gives them access to support from more than 1,200 brick and mortar Giant dealers across the US alone (above).

That’s a serious advantage that online-only bike brands simply can’t match.

Safety first … and maybe second, too

Momentum’s commitment to safety doesn’t stop at the battery. The Cito E+ features confidence-inspiring 4 piston hydraulic disc brakes and a heavy duty suspension for predictable handling even under heavy loads — important if you have to suddenly haul the bike down from its electronically assisted 28 mph top speed with precious kids and cargo on the back.

LED head and taillights with a lever-activated taillight ensure Cito E+ riders will be seen, too, helping you stay safer after hours.

Accessories and add-ons

Momentum Cito E+ top tube accessory and Momentum front basket shown; image by Electrek.

Momentum’s Cito E+ offers a comprehensive selection of accessories to help optimize it for each rider’s unique use case — whether that’s hauling up to 132 lbs. of cargo on the rear rack and 33 lbs. on the optional front basket (shown, above), or adding 2 Thule Yepp Maxi seats and getting the little ones to school five times a week.

You can find out more about the Momentum Cito E+ and the brand’s available accessories by clicking here.

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‘This is a unique time’: ARK Invest’s chief futurist tackles tech innovation from AI to robotics

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‘This is a unique time’: ARK Invest’s chief futurist tackles tech innovation from AI to robotics

Private lives – why hot tech is shying away from IPOs

ARK Invest’s chief futurist lists five groups that should give tech investors an edge.

According to Brett Winton, robotics, artificial intelligence, multi-omics sequencing, public blockchain and energy storage are key areas because they’re all entering the marketplace at the same time.

“We believe that this is a unique time in technological economic history,” he told CNBC’s “ETF Edge” this week.

Winton collaborates with ARK Invest CEO Cathie Wood to maintain the ARK Venture Fund (ARKVX), which allows investors to buy into the private technology space.

According to the firm’s website, the goal of the fund is to make venture capital offerings of innovative spaces in the market accessible to individual investors. As of April 10, it shows the fund’s top holdings include Epic Games, known for online video game Fortnite, and biotech companies Freenome and Relation Therapeutics.

“Our emphasis is that we are investing in innovation over the long term and going to support management teams,” said Winton.

He contends it’s a strategy that’s often not prioritized.

“That’s a real challenge a lot of public market investors don’t have that long-term view,” Winton added.

The ARK Venture Fund is down more than 7% so far this year. However, it’s up almost 39% percent over the past 52-weeks.

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