© Stocksak. XPeng (XPEV) Announces Comprehensive Organizational Restructuring
By Michael Elkins
Friday’s email from He Xiaopeng (NYSE:), in which he announced that the electric vehicle company would undergo a complete organizational restructuring, was sent to employees.
The CEO presided over management meetings for several days recently, reflecting and discussing key issues such as the company’s operation, organizational structure and product strategy and has decided to establish a virtual committee organization made up of five committees. This organization’s goal is to improve collaboration efficiency and open communication between the company’s different business lines.
According to Chinese media outlet 36Kr Xiaopeng would oversee three of five committees (corporate strategy and product planning)
According to a person familiar with the matter, the trigger for this adjustment was the listing of XPeng‘s new G9. Consumers have complained about the difficulty of naming products, deviations in product planning from user requirements, and failure to market.
Official data shows that XPeng delivered 9,578 and 8,468 vehicles in August and September 2022. During the same period, 5,745 and 4,634 XPeng P7s were delivered. XPeng‘s delivery volume decreased month-over-month in August and Year-over-year in September.
XPEV shares were down 9.84% on Monday morning in early trading.