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Search resuls for: "Xpeng Motors"


9 mentions found


☆ BYD’s profit soared 80% in the year the Chinese EV giant overtook Tesla
  + stars: | 2024-03-26 | by ( Laura He | Anna Cooban | ) edition.cnn.com   time to read: +2 min
Net profit almost doubled to 30 billion yuan ($4.2 billion) last year, from 16.6 billion yuan ($2.3 billion) in 2022, the Shenzhen-based company said Tuesday. BYD sold 525,409 battery electric vehicles (BEVs) during that period, compared with Tesla’s 484,507. In 2023 as a whole, BYD sold a record 3.02 million vehicles globally, up 62% from 2022. Its entry-level model sells in China for the equivalent of just over $10,000; the cheapest Tesla car, a Model 3, costs almost $39,000. But intensifying competition and a brutal price war last year have impacted the profit margins of many Chinese car makers, including BYD.
Persons: London CNN — BYD, That’s, Warren Buffett, BYD, Tesla, Elon Musk’s carmaker Organizations: London CNN, Elon, Tesla, Chinese Passenger Car Association, Geely, Chery, XPeng Motors Locations: Hong Kong, London, Shenzhen, China
☆ Chinese EV maker Xpeng's operating loss widens on costs tied to production ramp-up
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
A sign of Chinese electric vehicle (EV) maker XPeng Motors is pictured at its booth in a shopping mall in Beijing, China November 3, 2023. Its year-earlier operating loss was 2.18 billion yuan. Revenue for the quarter came in at 8.53 billion yuan, missing analysts' estimates of 8.55 billion yuan. Chinese EV makers have been exporting vehicles to Europe where they get higher prices on their cars than in the domestic market. ($1 = 7.2423 Chinese yuan renminbi)Reporting by Harshita Mary Varghese in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
Persons: Tingshu Wang, Xpeng, Harshita Mary Varghese, Anil D'Silva Organizations: XPeng, REUTERS, HK, U.S, Tesla, Visible Alpha, Revenue, EV, European Commission, Thomson Locations: Beijing, China, Europe, Bengaluru
☆ Xpeng says it plans to expand into more European markets next year
  + stars: | 2023-09-04 | by ( ) www.reuters.com   time to read: +1 min
People visit at the XPeng Motors booth at the Auto Shanghai show, in Shanghai, China, April 19, 2023. REUTERS/Aly Song/File photo Acquire Licensing RightsMUNICH, Sept 4 (Reuters) - Chinese electric vehicle maker Xpeng (9868.HK) plans to expand into more European markets, including Germany, Britain and France in 2024, president Brian Gu told reporters on Monday at the IAA Mobility motor show in Munich. China's EV makers are seeking to expand in the region, aiming for higher margins and faster growth in overseas markets and challenging European companies on their home turf with cheaper models. Chinese EV makers are also struggling with a bruising price war at home that has squeezed their profitability and capped growth. While their EV sales picked up rapidly in South East Asia and South America, the European market has remained difficult for Chinese auto brands.
Persons: Aly, Brian Gu, Gu, ”, Zhang Yan, Victoria Waldersee, Josephine Mason, Jason Neely Organizations: Auto, REUTERS, Rights, HK, IAA Mobility, China's, EV, Thomson Locations: Auto Shanghai, Shanghai, China, Germany, Britain, France, Munich, Israel, Netherlands, Norway, South East Asia, South America, Europe
☆ Chinese automakers to take majority of home market for first time - forecast
  + stars: | 2023-07-05 | by ( ) www.reuters.com   time to read: +3 min
It would represent the first time Chinese automakers have controlled a majority share of China's car market - the world's largest. For the past four decades, China's auto market has been dominated by established global brands such as VW and Toyota operating in joint ventures with Chinese partners. AlixPartners forecast China's overall auto sales would grow 3% this year to 24.9 million vehicles, recovering to the level of sales before COVID-19. Dyer forecast annual sales of Chinese-branded cars in overseas markets would grow to 9 million vehicles by 2030. China's market also faces massive overcapacity, and Dyer forecast a wave of consolidation.
Persons: Jason Lee, AlixPartners, Tesla, Stephen Dyer, Dyer, haven't, Zhang Yan, Kevin Krolicki, Devika Organizations: REUTERS, VW, Toyota, HK, Xpeng Motors, Thomson Locations: Beijing, China, Japan, U.S, Asia, Europe, South America, South East Asia, South Asia, Shanghai, Singapore
☆ We expect delivery numbers to recover in the second half, says Xpeng Motors
  + stars: | 2023-04-19 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect delivery numbers to recover in the second half, says Xpeng MotorsBrian Gu of the Chinese electric vehicle manufacturer discusses its first-quarter sales and the competition in the Chinese auto market.
☆ Analysis: China’s Xpeng takes cues from Tesla for its new EV platform
  + stars: | 2023-04-18 | by ( Paul Lienert | ) www.reuters.com   time to read: +3 min
[1/2] He Xiaopeng, the co-founder, chairman and CEO of XPeng Motors attends a news conference ahead of the Shanghai Auto Show, in Shanghai, China April 16, 2023. "It's obvious the design of the (G6) came from the Model Y," industry analyst Sandy Munro told Reuters. Xpeng's simplified vehicle platform design - in effect, a three-piece frame that is both flexible and scalable - saves on parts, tooling, development and assembly time, and appears to have been lifted from Tesla, according to Munro. Such a platform has the potential to give Tesla, Xpeng and other automakers considering this approach a new weapon to help restore margins hit by recent price wars in China and other markets. Reporting by Paul Lienert in Detroit, Editing by Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
☆ China's Xpeng aims to cut costs with new vehicle manufacturing platform
  + stars: | 2023-04-16 | by ( ) www.reuters.com   time to read: +2 min
[1/5] He Xiaopeng, the co-founder, chairman and CEO of XPeng Motors attends a news conference ahead of the Shanghai Auto Show, in Shanghai, China April 16, 2023. REUTERS/Aly SongSHANGHAI, April 16 (Reuters) - China's electric vehicle (EV) maker Xpeng (9868.HK) unveiled on Sunday a new platform it developed in-house for making vehicles, which it said will reduce the development and manufacturing costs for its company's upcoming models. He said that these cost reductions would give Xpeng an edge against its rivals in an increasingly competitive market. Xpeng will build its G6 SUV, which will debut at the Shanghai auto show starting on Tuesday, as the first model to be built on the SEPA 2.0, according to the company. Xpeng's rival Tesla (TSLA.O) uses massive casting machines, also known as gigapresses, to make large single pieces of vehicle underbodies.
☆ Nio, BYD and other Chinese EV stocks fall sharply amid selloff
  + stars: | 2022-10-24 | by ( John Rosevear | ) www.cnbc.com   time to read: +1 min
Nio began deliveries of its new ET7, an upscale electric sedan, on Monday, March 28, 2022. U.S.-traded shares of Chinese electric vehicle makers were among those hit by a dramatic selloff on Monday, as investors soured on non-state-run Chinese companies following a weekend of dramatic political developments in China. Other prominent Chinese companies including Alibaba and Tencent Music Entertainment suffered similarly dramatic declines. Under Xi's leadership, China's government has increased restrictions on speech and movement and tightened regulations on technology companies. Analysts see further restrictions ahead, with Bernstein's Mark Schilsky writing in a Monday morning note that Chinese stocks are now "uninvestable."
☆ XPeng Motors vice-president discusses Biden's A.I. chip curbs
  + stars: | 2022-09-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXPeng Motors vice-president discusses Biden's A.I. chip curbsCharles Zhang of XPeng Motors discusses the outlook and challenges for the company after it launched a city-level NGP (navigation guided pilot) system that can handle "complex driving scenarios" in the city.
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