.He Xiaopeng, owner of Chinese EV business Xpeng, said on Aug. 27 that the startup's upcoming a decade will definitely concentrate on combining synthetic intelligence.CNBC|Evelyn ChengBEIJING u00e2 $ " Xpeng shares rose after the Mandarin electric automobile company introduced its brand-new mass-market Mona label on Tuesday along with costs starting as low as $16,812, far listed below that of Tesla's Style 3. The Chinese automaker claimed purchases for the Mona M03 electrical coupe surpassed 10,000 only 52 minutes after the vehicle's professional launch in Beijing.Xpeng's U.S.-listed portions closed 6.5% in New York trading on Tuesday, while its Hong Kong-traded allotments climbed almost 2% very early Wednesday morning." With autos valued under $20,000, China is further gluing its own brand-new opening as the globe center for auto production," Michael Dunne, founder and chief executive officer of speaking with company Dunne Insights, pointed out Wednesday on CNBC's "Squawk Box Asia."" China may produce automobiles a lot more at low costs than any individual else on the planet," he said.Stock Graph IconStock chart iconXpengXpeng reveals prolonged gains coming from Monday after a declaring presented the provider's creator and chief executive officer, He Xiaopeng, bought at the very least 1 million shares each of the firm's share stocked the united state and also Hong Kong.The overall USA investment was worth almost $10 million, depending on to the submission, giving He concerning 18.8% of the company's overall issued portion capital.Xpeng portions have actually dropped greater than 45% so far this year.Tesla portions closed nearly 2% lesser on Tuesday. Shares of Chinese electrical automobile firms Zeekr and also Li Vehicle climbed, while those of Nio finalized mildly lower.u00e2 $" CNBC's Sheila Chiang brought about this report.