Xpeng’s Electric Vehicle Sales Near 100,000 Despite Widening Loss

What’s new: Electric vehicle upstart Xpeng Inc. topped domestic rivals with almost 100,000 sales in 2021 despite widening losses.

Xpeng delivered 98,200 vehicles last year, up 263% year-on-year. The figure outpaced Nio Inc.’s 91,400 units and Li Auto Inc.’s 90,500 units, according to the latest company data.

Despite upbeat sales, Xpeng posted a widening 2021 net loss of 4.86 billion yuan ($761 million), nearly 80% more than the previous year. Revenue more than tripled to 21 billion yuan, according to the company’s financial report.