Tesla rival Xpeng reports sevenfold rise in sales revenue as demand for electric vehicles in China soars

Source: South China Morning PostXpeng, one of three Chinese electric car makers listed in the United States, reported its third straight quarterly increase in sales, as its new factory in southern China helped satisfy booming demand for vehicles that run on non-fossil fuels in the world’s largest vehicle market.The company reported 2.95 billion yuan (US$450.4 million) in sales revenue in the first quarter, a massive leap of 616.1 per cent from a year earlier, and better than the 2.89 billion yuan forecast by analysts in a…Read More

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