SWITCH Singapore: Xpeng expects strong China EV growth after 3Q rebound, launches overseas expansion

© Enterprise Singapore

Welcoming foreign player entry as potential boost to EV adoption, Xpeng President Brian Gu also notes attractiveness of overseas markets, especially Europe

The trio of US-listed Chinese electric vehicle (EV) makers NIO, Xpeng Motors and Li Auto are the new stars of auto stocks as their combined market capitalization exceeded that of GM, Ford and Fiat Chrysler, the US’ three largest automakers, for the first time ever, in October. Sales of the Chinese EV makers are posting strong growth momentum, even though they continue to lag those of Tesla’s, the best-selling EV brand in China. Xpeng, for instance, said it sold near 2.7 times more cars in the third quarter of 2020 from the year-ago period. Xpeng’s Vice Chairman and President Brian Gu...
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Edited by Bernice Tang

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