Mar 20, 2023 09:14 PM

BUSINESS

XPeng Predicts Revenue, Deliveries to Nosedive in the First Quarter

By Qi Zhanning and Ding Yi

XPeng vehicles sit on display on Aug. 1 in Changzhou, East China’s Jiangsu province. Photo: VCG

XPeng vehicles sit on display on Aug. 1 in Changzhou, East China’s Jiangsu province. Photo: VCG

XPeng Inc. has predicted that revenue and vehicle deliveries will nosedive in the current quarter after the Chinese electric-vehicle (EV) upstart reported slowing sales growth and a loss that nearly doubled in 2022.

The company’s revenue will likely plunge 43.7% to 46.3% year-on-year to between 4 billion yuan ($581 million) and 4.2 billion yuan in the first quarter of 2023, XPeng said in an earnings report released Friday.

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