Volkswagen Invests $700M into China’s EV Maker Xpeng

The Volkswagen Group is bolstering its foothold in the Chinese automotive market through strategic partnerships with Xpeng and SAIC. The move is part of the Group’s local electrification strategy, aiming to tap into new customer and market segments in China’s rapidly growing e-mobility market. Volkswagen has inked a technological framework agreement with Xpeng. The initial […]

XPeng Sales Plunge in Q1, Sends Shockwaves in China’s EV Sector

Chinese electric vehicle (EV) manufacturer XPeng has reported a significant drop in sales for the first quarter of 2023. The company’s revenue for the quarter was RMB 4.03 billion ($590 million), marking a staggering 45.9% decrease compared to the same period last year, and a 21.5% sequential decrease from Q4 2022. The company’s net loss […]

NIO Q4 2022 Deliveries Surge 60% Year-Over-Year

NIO on Sunday announced fourth-quarter deliveries of 40,052 electric vehicles (EVs), marking a 60% increase year-over-year and a new quarterly record for the Chinese automaker. The company also marginally beat its own delivery outlook for Q4, which it lowered from 43,000-48,000 vehicles to a more modest 38,500-39,500 last week. At the same time, the EV […]

Xpeng Motors Launches City Navigation Guided Pilot Program in China

Xpeng Motors is set to launch its City Navigation Guided Pilot (City NGP) program in China, making it the first Chinese automaker to launch a high-level, semi-automated driving system in the country. As reported in a press release on Thursday, Xpeng plans to launch the City NGP program on Wednesday, available to drivers of the […]