Hyperdrive
Xpeng Reports Worse-Than-Expected Loss After Shanghai Lockdowns
- Sees third-quarter deliveries that fall short of estimates
- More affordable EVs are coming down the line, CEO He says
The XPeng Inc. P7 Wing Limited Edition electric vehicle being charged at an XPeng dealership in Shanghai, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese EV maker Xpeng Inc. reported a wider-than-expected loss after Shanghai’s lockdown and supply chain snarls troubled automakers last quarter.
The net loss widened to 2.7 billion yuan ($394 million) in the three months ended June 30, the Guangzhou-based company said Tuesday. That compares to a 1.19 billion yuan shortfall a year earlier and analyst estimates of a 1.94 billion yuan deficit, according to data compiled by Bloomberg.