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Chinese EV maker Xpeng expands presence in Ireland

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China

China

Chinese EV maker Xpeng expands presence in Ireland

2025-02-19 17:38 Last Updated At:19:07

⁠⁠⁠⁠⁠⁠⁠Chinese electric vehicle (EV) manufacturer Xpeng is actively promoting its latest model while increasing its investment in Ireland, undeterred by the European Union's EV tariffs implemented at the end of last year.   The latest model of Xpeng SUV, the G6 Coupe, boasts impressive performance. It can accelerate from 0 to 100 km/h in 6.7 seconds and offer a range of 570 km on a single charge. It is also equipped with advanced AI technology that brings customers closer to autonomous driving experiences.   At a gleaming new showroom of the MSL Grange Motors in Dublin, consumers are exploring the new model and placing their orders.   "We've actually called for more stock, and we had orders put in last week because of the volume that we sold over the last week. So one week [after opening, on] the weekend we sold 12 Xpengs. And now we have more cars on order and they're on their way from China as we speak, so it's really good times for Xpeng in Ireland," said Alan Furlong, MSL Xpeng Brand Manager.   Xpeng, though only a decade old, has ambitious plans to expand sales to 60 countries, with the G6 Coupe targeting the Tesla Model Y.   The Model Y made history as the best-selling car worldwide in 2023, marking a significant milestone for EVs, and it continued to dominate sales in 2024.   Xpeng is trying to compete by offering better technology as standard features, like the G6 Coupe's AI-powered autonomous driving capabilities and a price tag that's approximately $10,000 lower.   The company's investment in Ireland further demonstrates that the European Union's EV tariffs are not hindering the rollout of Chinese EVs, said experts.   "[With regards to] tariffs, people are just looking [for]: is it good value, [does] the vehicle itself have the range, have the size, can I fit the kids in it, can the dog fit in the boot. Now it's CPU this and AI that and voice assistant. And the Chinese cars just have it all, and the European manufacturers are kind of playing catch up to all of that, kind of, what consumers are actually looking for. Tariffs are driving more innovation. But also, I think the Chinese manufacturers have optimized real lean manufacturing, and they could probably, and they are taking that tariff in, the ability to soak that in and still have a competitively priced vehicle that European customers and Irish customers are happy to pay for," said Derek Reilly, an EV expert.

Chinese EV maker Xpeng expands presence in Ireland

Chinese EV maker Xpeng expands presence in Ireland

African officials on Wednesday pledged to scale up investment to accelerate development across the member states of the Economic Community of West African States (ECOWAS) at a meeting in Accra, Ghana's capital.

They made the commitment during the 24th Annual General Meeting of the ECOWAS Bank for Investment and Development (EBID), where leaders highlighted the need to expand the bank's capital base to finance transformative projects.

Ghanaian Finance Minister Cassiel Ato Forson stressed that timely capital payments would strengthen EBID's leverage and sustain its growth, enabling the institution to stimulate inclusive economic expansion across the region.

"Timely capital payments are critical. It strengthens EBID leverage and sustains its growth and impact across our region. Expanding our capital base is essential to strengthen our ability to finance transformative development projects and stimulate inclusive economic growth among our member states," said Forson.

EBID recorded strong achievements in 2025, with total disbursements of about 722 million U.S. dollars, up 47.7 percent from 2024. Building on that momentum, President George Agyekum Donkor said the bank remains committed to helping member states tackle poverty and close infrastructure gaps across the region.

"We aim to direct at least 63 percent of new commitments towards the private enterprises to catalyze job creation and innovation. Simultaneously, the bank would embed environmental, social and governance principles across its operations, dedicating over 41 percent of resources to climate mitigation and social inclusion projects," said Donkor.

With disbursements surging nearly 48 percent last year, EBID officials said the bank is positioned to channel more resources into private-sector growth and climate-focused projects, reinforcing its role as a driver of inclusive development across West Africa.

African officials vow stronger investment push at ECOWAS bank meeting in Accra

African officials vow stronger investment push at ECOWAS bank meeting in Accra

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