.He Xiaopeng, owner of Mandarin EV business Xpeng, stated on Aug. 27 that the startup's following 10 years will definitely focus on combining man-made intelligence.CNBC|Evelyn ChengBEIJING u00e2 $ " Xpeng portions increased after the Mandarin electric cars and truck company released its own new mass-market Mona label on Tuesday with costs beginning as reduced as $16,812, much below that of Tesla's Version 3. The Chinese car manufacturer said orders for the Mona M03 power sports car exceeded 10,000 merely 52 moments after the cars and truck's professional launch in Beijing.Xpeng's U.S.-listed reveals closed 6.5% in New york city investing on Tuesday, while its Hong Kong-traded allotments increased nearly 2% very early Wednesday early morning." Along with autos valued under $20,000, China is further sealing its new role as the globe center for automotive production," Michael Dunne, founder and CEO of consulting firm Dunne Insights, claimed Wednesday on CNBC's "Squawk Package Asia."" China can easily create cars a lot more at low costs than anyone else in the world," he said.Stock Graph IconStock chart iconXpengXpeng shares extended gains from Monday after a submitting revealed the firm's owner and also CEO, He Xiaopeng, purchased the very least 1 million portions each of the company's equity traded in the USA and also Hong Kong.The complete united state purchase cost almost $10 million, according to the submission, providing He about 18.8% of the company's complete issued allotment capital.Xpeng portions have lost much more than forty five% so far this year.Tesla shares closed nearly 2% lower on Tuesday. Portions of Chinese power car companies Zeekr and also Li Vehicle increased, while those of Nio closed gently lower.u00e2 $" CNBC's Sheila Chiang resulted in this report.