Wang Fengying Revives Xpeng With Bold Moves | Generated by AI
I’ll search for information about Wang Fengying’s role at Xpeng (Xiaopeng) and how she helped turn the company around.Based on my research, here’s how Wang Fengying turned Xpeng around from struggling to leading:
The Crisis (2022-Early 2023)
Xpeng was in serious trouble when Wang joined:
- Deliveries plummeted 47% in Q4 2022 compared to Q4 2021
- Gross margin turned negative at -2.7% to -6.1% in mid-2023
- The company was bleeding cash with massive losses
Wang’s Appointment & Background
Wang Fengying joined as President on January 30, 2023, bringing over 30 years of automotive experience from Great Wall Motor, where she had been instrumental in making it China’s largest SUV manufacturer.
Key Turnaround Strategies
1. Major Organizational Restructuring
- Wang led comprehensive restructuring involving marketing, HR, manufacturing, and product planning teams
- Brought in industry veterans she had worked with previously
- Conducted anti-corruption efforts in supply chain units
2. Affordable Product Strategy - The Game Changer
The Mona M03 was the breakthrough product:
Pricing:
- Entry-level model: 119,800 yuan (~$16,800)
- Mid-range: 129,800 yuan (~$18,200)
- Top Max version: 155,800 yuan (~$21,850)
This was revolutionary because Xpeng previously built intelligent EVs priced above 200,000 yuan, making the Mona M03 roughly 40% cheaper while still offering advanced features.
Why It Worked:
- Targeted first-time car buyers with budgets around 100,000 yuan
- Received over 10,000 firm orders within 52 minutes of launch
- Reached 30,000 deliveries by November 2024
3. Cost Reduction & Partnerships
- Secured $700 million investment from Volkswagen in July 2023
- Entered joint sourcing program with Volkswagen to reduce platform costs
4. International Expansion
- Wang took over overseas business, adding the Middle East as a key market
- Restructured international teams for better execution
The Results
Financial Turnaround:
- Q4 2023 gross margin turned positive at 6.2% after two consecutive negative quarters
- Q4 2023 revenue reached RMB 13.05 billion, up 154% year-over-year
- Net loss narrowed 43% year-over-year in Q4 2023
Sales Growth:
- 2025 deliveries reached 429,400 vehicles, up 126% year-over-year from 190,100 in 2024
- Xpeng ranked third among new energy vehicle manufacturers in 2025
Wang’s turnaround strategy was essentially about democratizing smart EV technology - making advanced features affordable to mass-market consumers while aggressively cutting costs and expanding internationally.