PARIS: Chinese electric car maker Xpeng is looking into opening its own factories in Europe after the EU increased tariffs, and it even hopes to sell flying vehicles in the bloc one day, says the company's founder.
Xpeng founder and chief executive He Xiaopeng said on the sidelines of the Paris auto show that European companies "don't need to worry" about Chinese competitors.
Brussels has decided to impose tariffs of up to 35.3 percent on imports of Chinese-made electric cars, citing alleged subsidies that give them an unfair advantage over European rivals.
"I think all policies are reasonable as long as they are stable and they treat all companies equal," said He.
"Now we are searching for possibilities to work with local plants or have our own plants (in Europe)," he said, adding that the company was conducting a feasibility study.
He said Xpeng is helping Volkswagen in the area of artificial intelligence and electronics while the German auto giant helps his company on supply chain and quality control issues.
"Volkswagen helps us do this in more and more areas in Europe. We would like to work with other local partners in order to use our own complementary advantages or comparative advantage," He said.
"We can use our comparative advantages in order to grow together. So I don't think European companies need to worry about the Chinese companies, we need to just be together," he added through an interpreter.
Xpeng, which designs high-end cars, launched two premium models in Europe this year.
The Tesla rival is developing self-driving technology as well as a low-altitude flying vehicle.
"If the law in Europe allows, we want to launch flying cars," he said.
"We want to launch some different models adapted to local markets" and "change the mobility in European markets."
