(Yicai Global) Nov. 27 -- Xpeng Motors, whose shares have more than tripled in value over the past two months, plans to take on more than 4,000 new staff next year, according to its chairman.

But employees of the Chinese electric carmaker should not focus on the company’s stock price movements, but work hard to grow the business, He Xiaopeng wrote in an internal company letter, according to tech news outlet 36Kr.

Xpeng’s shares [NYSE: XPEV] fell 9 percent yesterday to USD64.27 each, which still means they have gained 232 percent from USD19.38 at the end of October and more than quadrupled since being listed in New York in August. Xpeng’s market cap is USD47.2 billion.

The Guangzhou-based firm ranked third for the biggest increase in value, according to the Hurun Research Institute’s annual list of China’s 500 most-valuable private firms, which was published on Nov. 25.

Xpeng will also invest more in research, branding, and sales channels next year, He said, adding that manufacturing costs should fall and the firm's competitiveness rise over the next few years.

Shares of the world’s electric carmakers have soared this year. Tesla is worth seven times more than what it was at the end of last year, helping to make founder Elon Musk the world’s second-richest man after Jeff Bezos of Amazon. China’s Nio has gained over 1,200 percent, and BYD’s stock has increased 265 percent.

Editor: Emmi Laine