Xpeng’s newly appointed CEO assistant Li Pengcheng stepped down as the EV maker continues to adjust its structure. The automaker has seen poor car sales in the last several months and faced heated criticism on pricing and specs after launching its first premium crossover model, G9, in September. Wang Tong, a vice president at Xpeng since mid-2019 and a former executive at Alibaba’s entertainment unit, took over the role from Li, Chinese media Future Automobile Daily reported on Friday, citing people familiar with the matter. On Sept. 23, the Alibaba-backed automaker reduced prices on most versions of its G9 sports utility vehicles, a move the company described as being made to meet the high demand for optional specs from customers. [Future Automobile Daily, in Chinese]
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