Chinese EV startup XPeng’s revenue in Q2 grew 97.7 percent year-on-year to 7.43 billion yuan (US$1.08 billion) while the net loss widened to 2.7 billion yuan.
The worse-than-expected performance dragged down the company’s share price. It went down to a record-low of HK$71.8 on Thursday.
But CEO HE Xiaopeng is confident of XPeng’s future. Three new models will be released soon, including the G9 which received more than 22,000 orders in 24 hours after presales began. He said it is “the best SUV priced under 500,000 yuan.”
