.He Xiaopeng, founder of Chinese EV firm Xpeng, mentioned on Aug. 27 that the start-up's next 10 years are going to pay attention to integrating artificial intelligence.CNBC|Evelyn ChengBEIJING u00e2 $ " Xpeng portions rose after the Mandarin electricity car firm released its own brand-new mass-market Mona brand on Tuesday with prices beginning as reduced as $16,812, far listed below that of Tesla's Version 3. The Chinese automaker stated orders for the Mona M03 electric sports car surpassed 10,000 merely 52 mins after the car's official launch in Beijing.Xpeng's U.S.-listed portions closed up 6.5% in The big apple exchanging on Tuesday, while its Hong Kong-traded allotments increased nearly 2% early Wednesday early morning." Along with vehicles priced under $20,000, China is actually further binding its own brand new job as the planet center for automotive production," Michael Dunne, founder and also chief executive officer of getting in touch with company Dunne Insights, said Wednesday on CNBC's "Squawk Box Asia."" China may produce cars more inexpensively than anyone else on earth," he said.Stock Chart IconStock graph iconXpengXpeng shares stretched increases from Monday after a declaring revealed the provider's owner as well as chief executive officer, He Xiaopeng, purchased the very least 1 million portions each of the company's stock sold the U.S. as well as Hong Kong.The overall united state acquisition cost nearly $10 million, depending on to the declaring, offering He concerning 18.8% of the provider's complete given out portion capital.Xpeng portions have shed more than forty five% so far this year.Tesla allotments finalized almost 2% lesser on Tuesday. Allotments of Chinese electric vehicle providers Zeekr and also Li Vehicle climbed, while those of Nio shut gently lower.u00e2 $" CNBC's Sheila Chiang brought about this report.