Xpeng Loss Widens as Supply-Chain Issues Hit Chinese EV Maker
- Firm’s second-quarter sales forecast misses analyst estimates
- Company’s shares fall in premarket trading in New York
An XPeng Inc. P7 Wing Limited Edition electric vehicle.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese electric-vehicle maker Xpeng Inc. reported a wider-than-expected quarterly loss as supply-chain snarls and surging materials costs squeeze margins.
Xpeng’s net loss more than doubled to 1.7 billion yuan ($260 million) in the three months trough March, the Guangzhou-based automaker said Monday. That compares to analyst estimates of a 1.52 billion yuan shortfall. The firm’s sales forecast for the current quarter also came in below analyst projections.