Hyperdrive
Xpeng’s Net Loss Narrows as It Warns of a Bumpy Outlook
- EV maker delivered record number of vehicles last quarter
- Competition is growing in China’s market for electric vars
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Xpeng Inc., the Chinese electric vehicle maker that’s partnered with Volkswagen AG, flagged a bumpy outlook even as it unveiled better-than-expected quarterly earnings.
Guangzhou-based Xpeng posted a net loss of 1.35 billion yuan ($188 million) for the three months ended Dec. 31, according to a filing Tuesday, versus expectations for a 2.97 billion yuan deficit and a 2.36 billion yuan shortfall the same period a year earlier.