Dec 01, 2022 08:10 PM

XPeng Warns of Quarterly Sales Crash as Losses Widen

Photo: VCG
Photo: VCG

XPeng Inc. has predicted revenue and car deliveries to drop in the current quarter after the Chinese electric-vehicle (EV) startup reported widening losses and slowing revenue growth in the previous three-month period.

The company's fourth-quarter revenue will likely be between 4.8 billion yuan ($674.8 million) and 5.1 billion yuan, representing a year-on-year decrease of 40.4% and 43.9%, said XPeng’s CEO He Xiaopeng during a post-earnings conference call on Wednesday.

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