.He Xiaopeng, creator of Chinese EV firm Xpeng, stated on Aug. 27 that the start-up's following a decade will definitely focus on integrating synthetic intelligence.CNBC|Evelyn ChengBEIJING u00e2 $ " Xpeng portions rose after the Mandarin electricity auto business introduced its own brand-new mass-market Mona company on Tuesday with prices beginning as reduced as $16,812, much listed below that of Tesla's Model 3. The Chinese automaker said purchases for the Mona M03 electric coupe went beyond 10,000 only 52 mins after the automobile's professional launch in Beijing.Xpeng's U.S.-listed reveals closed 6.5% in New York exchanging on Tuesday, while its Hong Kong-traded reveals climbed virtually 2% very early Wednesday morning." Along with vehicles valued under $20,000, China is actually additional gluing its own brand new role as the globe facility for automobile manufacturing," Michael Dunne, owner and also chief executive officer of speaking with organization Dunne Insights, mentioned Wednesday on CNBC's "Squawk Box Asia."" China can easily produce automobiles a lot more at low costs than any individual else worldwide," he said.Stock Chart IconStock graph iconXpengXpeng portions prolonged gains coming from Monday after a submitting revealed the firm's owner and also CEO, He Xiaopeng, bought at the very least 1 thousand allotments each of the provider's assets traded in the USA and also Hong Kong.The complete united state purchase was worth nearly $10 million, according to the filing, providing He about 18.8% of the firm's overall given out share capital.Xpeng portions have actually dropped much more than 45% thus far this year.Tesla shares finalized almost 2% lower on Tuesday. Portions of Mandarin electric automobile firms Zeekr as well as Li Car rose, while those of Nio shut mildly lower.u00e2 $" CNBC's Sheila Chiang contributed to this document.